The Commonwell Mutual Insurance Group has joined the Insurance Bureau of Canada (IBC), becoming part of an association that includes the majority of property and casualty (P&C) insurers operating in the country.
In a recent announcement, IBC said The Commonwell brings more than a century of insurance experience in Ontario, with a product portfolio that includes home, farm, commercial, auto, seasonal property, and watercraft coverage.
“We are pleased to welcome The Commonwell to IBC,” said Celyeste Power, President and CEO of IBC. “We appreciate The Commonwell’s community spirit and value their commitment to fostering meaningful relationships with their customers. They will add their unique and strong voice to IBC’s broad membership that works to ensure our industry continues to provide strong support to Canadians from coast-to-coast.”
The Commonwell operates as a mutual insurance company, with policyholders as members who participate in governance. The company was formed in 2014 through the amalgamation of three Ontario-based mutual insurers, though its legacy dates back more than 125 years. It maintains a regional approach to service and claims delivery.
“The Commonwell strives to go above and beyond for its customers and communities in times of need,” said Tim Shauf, President and CEO of The Commonwell Mutual Insurance Group.
“Our values closely align with those of IBC and their longstanding commitment to serving Canadians. We are proud to join the industry association and look forward to contributing to IBC’s reputation as a credible, trusted leader and voice within the insurance industry.”
IBC represents private Canadian P&C insurers and reinsurers. It engages with governments, regulators, and stakeholders to advocate on issues such as auto insurance reform, disaster resilience, regulatory policy, and public education on insurance matters. The association also supports member efforts to improve road safety and consumer understanding of insurance products.
