TORONTO, March 21, 2013 /CNW/ - Insurance Bureau of Canada (IBC)
applauds the Federal Government on its long-term commitment to
infrastructure funding in the 2013 Federal Budget.
The budget, delivered today, dedicates $53.5 billion over the next 10
years for provincial, territorial and municipal infrastructure.
IBC is pleased to have worked with the Federation of Canadian
Municipalities and other stakeholders to urge the Government to make a
priority of critical infrastructure spending. IBC is committed to
working with all levels of government and stakeholders to ensure that
storm and waste water infrastructure are priorities in the expanded
Chris White, Vice-President, Federal Affairs, IBC, welcomes the
investment in Canada's aging infrastructure, "As severe weather becomes
more common in Canada, updated storm and waste water infrastructure is
essential for municipalities. Because of the devastating human and
economic impacts of severe weather, home, car and business insurers
have made climate adaptation a top priority. We're pleased to see the
federal government helping fund this vital challenge."
IBC will continue advocating for increased infrastructure funding and
other adaptation measures to help protect Canadian families, homes and
businesses against severe weather.
Canada's property and casualty insurance industry manages the risks
inherent in home, business and automobile ownership. The industry
creates tens of thousands of jobs, pays billions in taxes and
contributes to the economic health of urban and rural communities.
Through IBC, the P&C insurance industry is a leading advocate for many
issues, including climate adaptation, financial literacy, road safety,
the fight against insurance fraud and auto theft, and maintaining
balanced regulation of financial services.
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
114,000 Canadians, pays more than $7 billion in taxes to the federal,
provincial and municipal governments, and has a total premium base of
To view media releases and information, visit the media section of IBC's
website at www.ibc.ca.
SOURCE: INSURANCE BUREAU OF CANADA
For further information:
For more information, contact:
Media Relations Officer
Insurance Bureau of Canada
416-362-2031 ext. 4312