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Chesley D. Fraser was born in New Glasgow, Nova Scotia where he started school. Later, he attended Mount Allison University, Queen's University and Royal Military College. After returning to Canada in 1945 at the close of World War Two, he joined Fraser & Hoyt Insurance Limited, a company started by his father. In time, he became President and Chairman of the company, retiring in 1995. Mr. Fraser passed away in the summer of 2000.

In 1949, C.D. Fraser became the founding President of IBANS, which then was called the Nova Scotia Insurance Agents Association. He was President for the association's first six years. He also served on many advisory boards and commissions within the insurance industry. He is noted for his community efforts with Aberdeen Hospital Commission, Nova Scotia Heart and Stroke Foundation, Nova Scotia Planning Board, Boy Scouts of Canada, YM-YWCA of Canada, Pictou County Research and Development Corporation, Trinity United Church and as Regent of Mount Allison University.

For his efforts at creating and developing our Association, IBANS is pleased to honour C.D. Fraser's memory with a university scholarship award in his name. The C.D. Fraser Memorial Scholarship has been available to members of the Insurance Brokers Association of Nova Scotia since 2002.