OTTAWA, June 2 /CNW Telbec/ - The Insurance Brokers Association of Canada
(IBAC) is on Parliament Hill today to address a number of issues of concern to
its members, Canada's 33,000 independent general insurance brokers. IBAC today
will remind Parliamentarians of the vital role played by brokers in virtually
every community in Canada.
"It is often said that, despite the recession, the position occupied by
the Canadian economy is by all accounts sounder than most. We agree with this
wholeheartedly" said IBAC CEO Dan Danyluk. "Canada's insurance brokers have
played a vital role in this and their presence in virtually every community in
the country underscored their importance in the national economy".
When other industries are looking for bailouts and laying off employees,
insurance brokerages continue to act as their clients' advocates, especially
during these trying economic times. This is a testament to the value provided
by brokers. Brokers have been part of the national economic fabric for over a
century because they provide their clients with exceptional value.
"Insurance brokers form a key part of the economic backbone of Canada's
communities", said Association CEO Dan Danyluk. "Brokers don't sell insurance
to their clients, they buy it on their behalf. As such they are uniquely
positioned to understand the specific needs of the people they represent, and
they act as the ultimate advocate in the event of a loss or claim."
In the current recession, Canada is in better shape than most countries,
and there are many reasons for this. Chief among them is the historical
separation of banking and insurance activities. Credit granting and insurance
do not mix because it both disadvantages lower income consumers and
potentially ties insurance purchases to the credit granting process. It is
inappropriate to allow the marketing of insurance to consumers when they are
applying for much needed credit so they can buy houses or cars. In these times
of credit crunch and bank withdrawal from lending this separation has never
been more important.
"Banking and insurance have been kept separate in this country and
Canadian consumers are direct beneficiaries of these public policy decisions,"
For further information:
For further information: and for media interviews: Kate Poirier, IBAC
Public relations, (613) 233-8906, Cell: (613) 889-3846, firstname.lastname@example.org