Toronto Insurance Council

What Toronto Insurance Council does

The Toronto Insurance Council (TIC) is a private, member-based non-profit industry association founded in 1918 and headquartered at 157 Adelaide Street West, Suite 432, Toronto. It serves as a peer forum for Canada's leading independent commercial insurance brokerages operating in the Greater Toronto Area, with membership gated by commercial lines premium thresholds ($100M for Full Membership, $20M for Associate) and requiring sponsorship from two current TIC board members. Its member roster includes major national and global brokerages such as Aon, Marsh Canada, Gallagher, WTW, HUB International, BFL Canada, Acera Insurance, ProLink, Westland Insurance, and others, alongside Supporting service providers. The organization is governed by an Executive Committee and Board of Directors drawn from member firms, with no external parent or equity owner.

TIC's core products and services fall into four buckets: (1) advocacy on legislative, regulatory, and supplier issues affecting the P&C insurance community, including sustained work on Bank Act restrictions against banks selling insurance and excise tax policy; (2) annual flagship events — Presidents' Reception (January), AGM (March), Golf Classic (June), and Black Tie Dinner (November, at the Ritz-Carlton Toronto) — that function as primary networking venues; (3) member-facing resources including the Scholarship Program (up to four $3,500 awards annually with diversity preference), Export Lists excise tax reference tool developed with the CRA, and the MSA Quarterly Outlook Report discounted for Full Members; and (4) participation in the Insurance Brokers Association of Canada (IBAC) A.I. Working Group, partnering with KPMG to deliver broker-focused AI education and governance guidance.

The business model is funded by two streams: recurring annual membership dues from Full, Associate, and Supporting member firms (pricing undisclosed) and transactional event registration fees (Black Tie Dinner tickets priced at $407.11 CAD for members and $463.75 CAD for non-members, inclusive of HST and processing). Go-to-market is community-led and sponsorship-gated, with peer referrals and board sponsorship serving as the primary recruitment mechanism rather than traditional sales outreach.

Name

Toronto Insurance Council

Legal name

Toronto Insurance Council

Website

https://ticbrokers.ca

Company type

Private

Founded year

1918

Operating status

Operating

Headcount range

1–10 employees

Short description

The Toronto Insurance Council is a 1918-founded, member-based non-profit association representing Canada's leading independent commercial insurance brokerages in the Greater Toronto Area through advocacy, networking events, and industry resources.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership dues: Annual membership fees from Full, Associate, and Supporting member brokerages. The firm is the member, not the individual. Revenue supports advocacy, events, scholarship programs, and industry representation.
2. Event registration fees: Revenue from ticketed events including Presidents' Reception, Annual Golf Classic, and Black Tie Dinner. Ticket pricing varies by membership status (member vs non-member rates).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

The Toronto Insurance Council is a non-profit industry association that provides membership services, advocacy representation, and networking events for commercial insurance brokerages in the Greater Toronto Area. Its core offerings include a tiered membership program (Full, Associate, Supporting) based on commercial lines premium volume, legislative and regulatory advocacy on Bank Act and excise tax issues, and annual networking events such as the Presidents' Reception, Annual Golf Classic, and Black Tie Dinner. It also runs a P&C insurance scholarship program and an AI Education Initiative in partnership with IBAC and KPMG.

Product overview

Toronto Insurance Council operates as a unified association offering membership-based services to commercial insurance brokers. The core offerings include advocacy representation, professional development events (Scholarship Program, Presidents' Reception, Annual Golf Classic, Annual Black Tie Dinner), and access to industry research (MSA Quarterly Outlook Report for Full members). The Council also provides specialized services such as Export Lists for excise tax compliance and participates in IBAC's AI Education Initiative. Membership tiers (Full, Associate, Supporting) provide differentiated access to Executive Committee representation and subscription discounts.

Differentiator

Problem solved

Functional benefit

Products and services

• TIC Membership Program Association membership for commercial insurance brokers providing advocacy, networking, and professional development opportunities. Includes Full (≥$100M commercial lines premium), Associate (≥$20M), and Supporting membership tiers. The firm is the member, not the individual.
• Advocacy Services Advocacy representation on legislative, regulatory, and supplier issues affecting the P&C insurance community, particularly commercial insurance, including Bank Act advocacy and excise tax committee work.
• Scholarship Program Annual scholarship program awarding up to four $3,500 scholarships to diverse candidates pursuing careers in the property and casualty insurance industry, with selection based on commitment, financial need, and community contribution.
• Annual Golf Classic Annual golf tournament event providing networking opportunities for insurance industry professionals, held at Emerald Hills Golf Club.
• Annual Black Tie Dinner Annual formal dinner event bringing together over 300 insurers, adjusters, brokers, and members for celebration and industry networking, held at the Ritz-Carlton, Toronto.
• Presidents' Reception Exclusive invitation-only networking event for association presidents and industry leaders.
• MSA Quarterly Outlook Report Subscription-based quarterly industry outlook report available to Full members at a discounted rate.
• Export Lists Reference tool developed with CRA itemizing coverages not available from Canadian-licensed insurers, used as evidence of non-availability for excise tax exemptions.
• AI Education Initiative AI education program through IBAC partnership providing broker-focused A.I. education, use case identification, and governance principles for responsible AI adoption in insurance broking.

Quantifiable outcome

• Successful advocacy resulted in maintaining Bank Act prohibitions against banks selling insurance at point of credit granting

Named customers20 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• Insurance Brokers Association of Canada (IBAC)coreStrategic or Co-development PartnerTIC has board and committee representation within IBAC. TIC actively supports IBAC's A.I. Working Group, which focuses on bringing broker-focused A.I. education to Canadian insurance brokers. TIC also participates in IBAC's advocacy initiatives, including efforts to maintain Bank Act restrictions against banks selling insurance.
• Insurance Brokers Association of Ontario (IBAO)coreStrategic or Co-development PartnerTIC maintains ongoing working relationships with IBAO and other provincial insurance broker associations across Canada for coordinated advocacy and information sharing on legislative and regulatory issues.
• Registered Insurance Brokers of Ontario (RIBO)coreStrategic or Co-development PartnerTIC maintains consultative relationships with RIBO as part of its advocacy and regulatory engagement activities for the P&C insurance community.
• Insurance Bureau of Canada (IBC)coreStrategic or Co-development PartnerTIC has working relationships with IBC and its member companies for representing the interests of commercial brokers within the insurance industry.
• Canadian Council of Insurance Regulators (CCIR)coreStrategic or Co-development PartnerTIC maintains consultative relationships with CCIR for regulatory engagement and advocacy on behalf of commercial insurance brokers.
• Office of the Superintendent of Financial Institutions (OSFI)coreStrategic or Co-development PartnerTIC maintains consultative relationships with OSFI for regulatory engagement and advocacy on insurance broker-related matters.
• Financial Services Commission of OntariominorStrategic or Co-development PartnerTIC maintains consultative relationships with the Financial Services Commission of Ontario for provincial regulatory engagement.
• RIMS Canada CouncilminorStrategic or Co-development PartnerTIC maintains consultative relationships with RIMS Canada Council for industry engagement and information sharing.
• Toronto Insurance Women's Association (TIWA)minorStrategic or Co-development PartnerTIC maintains ongoing sharing of information with TIWA as part of its industry relationship building efforts.
• Women in Insurance Cancer Crusade (WICC)minorStrategic or Co-development PartnerTIC maintains ongoing sharing of information with WICC as part of its industry relationship building and community engagement efforts.
• Canadian Underwriter MagazineminorGTM or Marketing PartnerTIC maintains ongoing information sharing with Canadian Underwriter Magazine for industry visibility and communication.
• Insurance Business CanadaminorGTM or Marketing PartnerTIC maintains ongoing information sharing with Insurance Business Canada for industry visibility and communication.
• Thompson's World Insurance NewsminorGTM or Marketing PartnerTIC maintains ongoing information sharing with Thompson's World Insurance News for industry visibility and communication.
• KPMGcoreStrategic or Co-development PartnerIBAC partnered with KPMG on a national initiative designed to bring broker-focused, actionable A.I. education to Canadian insurance brokers. The partnership created educational sessions on A.I., identified real-world use cases, developed governance principles, and addressed regulatory compliance considerations from RIBO, AMF, and OSFI.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Insurance Institute of Canada: Canadian industry body delivering professional education, designations (CIP, CRM), and member services for the P&C insurance industry. Overlaps with TIC's education agenda (e.g., scholarship and AI literacy) but specializes in formal credentials rather than advocacy and networking.
• Toronto Insurance Women's Association: Toronto-based insurance industry association sharing information and networking with TIC. Smaller and more identity-focused, but operates in the same geography and similar networking-and-events value proposition.
• Insurance Brokers Association of Canada: National umbrella association for Canadian insurance brokers. TIC holds board and committee representation within IBAC, making it a closely aligned federation peer. IBAC operates at national scope on advocacy (including Bank Act) and education initiatives that complement TIC's regional work.
• Insurance Brokers Association of Ontario: Provincial trade association representing insurance brokers across Ontario. The most direct comparable to TIC: same province, same broker constituency, similar advocacy, education, and event-based value proposition, though IBAO's scope is province-wide versus TIC's GTA focus.

Others

• Women in Insurance Cancer Crusade: Canadian insurance industry charitable initiative supported by TIC. Thematically aligned with TIC's scholarship and DEI efforts, but focused on fundraising for cancer research rather than broker advocacy or member services.
• National Association of Insurance Commissioners: U.S. state-level insurance regulators. Not a competitor but a regulator peer; TIC maintains consultative relationships with CCIR (its Canadian counterpart). Useful reference point for how broker associations engage with regulatory bodies on policy.

Broad incumbents

• Council of Insurance Agents & Brokers: U.S. national trade association for commercial insurance brokers and agents. Comparable as a large-scale broker association with advocacy and member services, but operating in a different geography and serving a larger, more heterogeneous membership.
• RIMS (Risk and Insurance Management Society): Global professional association for risk managers and insurance buyers. TIC lists RIMS Canada Council as a partner. RIMS overlaps with TIC on networking, education, and policy engagement but serves the buyer side rather than the broker side of the market.

Regional players

• Independent Insurance Brokers of Canada (IIBC): Alternative Canadian broker association focused on independent brokers in Western Canada. Provides a regional-peer comparison to TIC's GTA-focused model, with similar advocacy and member-services themes but a different geographic franchise.
• British Insurance Brokers' Association: U.K. trade association for insurance brokers, providing advocacy, education, and member services. Strong functional analog to TIC at a larger scale and in a different regulatory environment; useful international comparator for member services and policy advocacy models.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/toronto-insurance-council

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toronto Insurance Council