Insurance brokers contribute $5.4 billion to Canada's GDP

Brokers are pulling their weight in the Canadian economy. The Insurance Brokers Association of Canada (IBAC) today released the results of a study that measured the economic and social impacts of property and casualty insurance brokers, finding that in 2017, member brokerages contributed around $5.4 billion to Canada's GDP. “We know that insurance brokers’ business operations add value to the provincial and national economies,” said IBAC CEO’s Peter Braid. “We also know that virtually every community across Canada benefits from the volunteer and philanthropic contributions of brokers and their employees.” IBAC engaged Deloitte Canada to analyze the economic contribution of the insurance brokering industry to both national and provincial economies, as well as identify a spectrum of social contributions this group makes.

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