The Insurance Bureau of Canada (IBC) announced Tuesday that it has chosen a new Chair for its Board of Directors.
That person is Kenn Lalonde, who currently serves as the President and CEO of TD Insurance. With over two decades experience serving in executive positions throughout the financial services and insurance sector, at well-regarded institutions such as CUNA Mutual Group, CUMIS Group, and CIBC, he comes well-equipped to take on the unique demands of the industry.
"This is an important time for Canadian insurers as the industry faces more challenges than ever before and, as the voice of Canada's property and casualty insurance industry, IBC is in a unique position to help advance much-needed public policy discussions," said Lalonde.
"These challenges span from climate change and more severe weather events to auto insurance reforms, to new technologies and industry disruptors. Through IBC, we will continue to engage governments and stakeholders across Canada to turn challenges into opportunities and ultimately benefit Canadian consumers. I look forward to continuing this important work and representing the shared values of our industry with IBC and its Board."
IBC is a national industry association that represents private auto, home, and business insurers in Canada. From a property and casualty (P&C) standpoint, it is indispensable to the market, with its member companies making up over 90 per cent of P&C insurers in Canada. It is also a valuable resource for everyday Canadians, offering important advice and information that is applicable to many aspects of daily life.