IBC Welcomes Financial Literacy Law

OTTAWA, April 8, 2013 /CNW/ - Insurance Bureau of Canada (IBC) today congratulated the federal government for the passing of Bill C-28, the Financial Literacy Leader Act, into law.  The Bill allows for the appointment of a financial literacy leader for Canada, a step that IBC supports as helping address an important need.

"The financial literacy of Canadians is vital," said Chris White, Vice President of Government Relations for IBC. "Canadian families are working harder than ever and deserve to know how to spend and invest those hard-earned dollars to secure their futures."

"That's why IBC supports financial literacy with 'in the community' events, partnerships with key stakeholders, and public outreach through traditional and social media channels. Our website at ibc.ca also has a wealth of information that helps empower consumers to make smart, responsible decisions about insurance," added White.

IBC also sits on the advisory council of the Financial Consumer Agency of Canada, which has recognized the importance of home and auto insurance in financial literacy in Canada.

"With a little more knowledge," noted White, "people can often reduce their insurance costs and improve the protection for their most valuable possessions - their cars, homes and businesses. We are hopeful that a financial literacy leader for Canada will help us carry that message forward, and we very much look forward to working with that leader in the future."

For more information on your home, car and business insurance, visit ibc.ca, getintheknow.ibc.ca and follow IBC on Twitter @insurancebureau and we look forward to working with the country's new leader in this area in the future

IBC also provides consumers with toll-free numbers to call and speak with insurance experts about your insurance issues.

Consumer Information Centre telephone numbers for:

About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the property and casualty (P&C) insurance market in Canada. The P&C insurance industry employs over 115,000 Canadians, pays more than $7 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $44 billion.

To view media releases and other information, visit the media section of IBC's website at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau or like us on Facebook.

If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE: INSURANCE BUREAU OF CANADA