What is the main role of the Insurance Bureau of Canada (IBC)?

The primary role of the Insurance Bureau of Canada (IBC) is to provide consumer information and education regarding insurance products and practices. This role is crucial as it helps consumers understand their coverage options, rights, and responsibilities. By educating the public, the IBC aims to empower consumers to make informed decisions when purchasing insurance, navigating claims, and understanding insurance policies.

Additionally, the IBC engages in advocacy on behalf of consumers, offering resources and support to help them navigate the sometimes complex world of insurance. Through initiatives such as public awareness campaigns and detailed informational resources, the IBC fulfills its commitment to ensuring consumers are equipped with the knowledge they need regarding insurance matters.

This focus on consumer education and advocacy is essential in promoting fair practices within the insurance industry and fostering trust between insurers and policyholders.