The Insurance Brokers Association of BC (IBABC) has revealed that it will work closely with environmental stakeholders and experts to better communicate the risks of climate change to clients – as it starts with a new partnership with the Institute for Catastrophic Loss Reduction (ICLR).
During the IBABC’s most recent Leaders’ Conference on June 08 and 09, the association discussed the fast-paced changes affecting the insurance industry, and how climate change is one such factor. ICLR executive director Paul Kovacs was present at the conference to discuss the insurance industry’s climate initiatives.
Founded in 1998 by the Canadian P&C insurance industry, ICLR is a centre for multi-disciplinary disaster prevention research and communication.
IBABC has stated that the ICLR “has the science and research to reduce losses from climate-related risks,” and that the centre also has a “proactive mandate to champion implementation of its findings.” Through a new partnership, IBABC will help distribute and promote ICLR resources to its member brokers, who in turn will use the resources to help inform and educate their clients on climate risks, and how they can protect themselves.
“Brokers always have their clients’ best interests in mind. They want to make sure consumers have the best insurance policy to protect them in the event of a disaster, but they also want to make sure consumers have the best protection to mitigate risks and be more resilient when these events do occur,” said IBABC executive director and COO Chuck Byrne.