Partner Perspectives: Insurance Brokers Association of Ontario

In early October, the OLIP interns had the privilege of meeting with Colin Simpson, CEO of the Insurance Brokers Association of Ontario (IBAO). The IBAO is a non-profit organization that educates and licenses brokers while advocating on behalf of more than 15,000 Ontario brokers to industry stakeholders and all levels of government. It also stands as the largest provincial broker association in Canada. 

During our meeting, we discussed key issues associated with the IBAO, brokerages, and policyholders across Ontario. We explored contemporary issues, such as rising car theft rates and their impact on insurance costs, as well as the history of insurance policy. Altogether, we learned how these policies intersect with the work of MPPs, as constituents frequently turn to their representatives for support with insurance-related concerns. 

Our discussion also touched upon the vast number of educational opportunities offered by the IBAO to prepare brokers for success in an ever-evolving industry, including licensing, management, technology, and specialist training. It was fascinating to examine the insurance world from multiple perspectives, including the links between natural disasters and the role that insurance policies and crisis management play in responding to such events. 

We would like to extend a heartfelt thank-you to Colin Simpson for taking the time to meet with us and share his insights. Your discussion helped broaden our understanding of the insurance sector and its importance to Ontarians. We also share our sincere thanks to the IBAO for its continued support of the OLIP programme—your longstanding partnership is deeply appreciated!