(Toronto, ON) Today, the Insurance Brokers Association of Ontario (IBAO) is releasing results of its socio-economic study generated by participating IBAO members. The survey was developed and conducted by InfoFeedback and shows that Ontario brokers are now serving 7.2 million policyholders across Ontario, contributing to the economy and acting as proven leaders in their communities.

“The contribution that independent insurance brokers make within Ontario proves that they are a critical backbone to our communities,” said IBAO President Michael Brattman. “The results prove that Ontario consumers are being served by community-minded brokers, dedicated to consumer protection.”

Jobs:

* 17,898 licensed insurance brokers (including partners and brokerage owners) in Ontario
* 2,355 unlicensed support staff in the Ontario brokerage industry
* 16.92 people employed, on average, by a brokerage firm

Stats:

* 47% of licensed member brokers are female
* IBAO brokerage firms have been in business for an average of 55 years

Community Stability in Employment:

* On average, brokerage owners have spent 22 years in the insurance industry; 32% of brokerage owners have spent more than 25 years in the insurance industry
* Brokers, on average, have spent 17 years in the industry, showing a high degree of career stability
* The average charitable donation made by individual brokers is 4.4% of their annual income
* Virtually all brokerages (100%) are involved in community organizations

“We have always known how community-oriented brokers are but it was nice to see this validated in the survey results,” says Brattman. “Brokers are active, dedicated members of their communities. They provide employment opportunities, offer financial support and give much of their personal time for the betterment of their neighbours.”

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