The Insurance Brokers Association of Canada (IBAC) is on Parliament Hill Tuesday to address a number of issues of concern to its members, Canada’s 33,000 independent general insurance brokers.

IBAC will remind MP’s 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,” says 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, IBAC says.

Brokers have been part of the national economic fabric for over a century because they provide their clients with exceptional value, the association says.

“Insurance brokers form a key part of the economic backbone of Canada’s communities”, says 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.”

IBAC is lobbying to maintain the separation of banking and insurance activities. It argues that due to the economic downtuen 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,” adds Danyluk.

IE