IFB calls for comment on role of MGAs

The Independent Financial Brokers is encouraging participants in the insurance industry to speak up about the role of managing general agencies in the industry. The call comes in response to the Canadian Council of Insurance Regulators’ examination of the distribution model.

“This is an excellent opportunity for those who conduct life insurance business under an independent model to have their say,” says John Whaley, IFB’s executive director. “The CCIR is looking for industry input to address the questions it has raised in its Issues Paper and we welcome the views of all those who operate as ‘independents’. A widespread response will help the regulators to better understand this market.”

The IFB has set up an online survey, and is asking independent brokers and representatives of insurance agencies to participate.

The CCIR issue paper is intended to stimulate debate about the issues noted, launch a process of consultation on those issues and build a common understanding for regulators and stakeholders. The CCIR has requested that comments be received by April 8th. A copy of the Issues Paper can be found on the CCIR website.

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