IBC puts support behind insurance education during Financial Literacy Month

The Insurance Bureau of Canada has thrown its support behind Financial Literacy Month, which runs during November, offering resources to help consumers better understand personal, home and auto insurance.

IBC is supporting the event with “community events, partnerships with key stakeholders, and public outreach through traditional and social media channels,” it stated in a release.

Its president and CEO Don Forgeron was also appointed to an advisory council set up by the Financial Consumer Agency of Canada, effective Nov. 1. The council meets twice a year on a range of issues including financial literacy, IBC noted.

A recent IBC-commissioned survey suggested that more than half of Canadians want to know more about home and car insurance and how it fits into their financial plans and that that 88% think schools should include home and car insurance in any financial lessons.

In addition to its consumer outreach campaigns, IBC recently launched a major ad campaign focused on educating Ontario consumers about auto insurance premiums, fraud, and the system in general.