Harmonization drives Nova Scotia brokers

Atlantic harmonization was the big topic of discussion at the Insurance Brokers Association of Nova Scotia (IBANS) conference held recently in Baddeck, Nova Scotia.

IBANS president Michael Brien says his constituents have a number of concerns heading into the coming year, harmonization of course among them, but particularly of exposure within the Nova Scotia province. “We’re going to try to raise the profile of the association to the consumer and to the government and to sister associations. We want to let them know who were are and what we do,” says Brien.

In the process of raising the profile of the association and provincial brokers, Brien says the IBANS website is being re-invented in order to provide more commercial use. “We do not yet represent 100% of property and casualty insurance brokers in Nova Scotia but are working on it. Consumers that have questions about insurance want to go to an independent source and we can provide that through our website information. Brokers that want to learn more about what our association does will find that information online as well.”

Brien also prioritizes creating closer bonds with other associations as well as outreach to government and media. “Newspapers have a tendency to go to the Insurance Bureau of Canada for information in Nova Scotia, we are looking to become recognized as an authority on property & casualty business.”

On the harmonization front, Brien is proud to say the four Atlantic provincial broker associations have banded together to lobby their concerns. Brien believes the process is being pushed through too quickly and says interested parties — such as the provinces’ brokers — are not being adequately consulted. “We aren’t in strong disagreement with harmonization but feel there are a few points that came out in the recent draft that are quite serious.” One in particular, Brien notes, dictates that violations of the new Insurance Act is a criminal, not civil offence. “We believe this point is overkill and unnecessary. We have a number of issues in harmonization that we would like to address and we prepared a very comprehensive report to address our problems.”

The timeline indicates harmonization could reach fruition by next spring and Brien believes the rush will leave important input on the sidelines. “Brokers are asking what’s the hurry? We just got into the process, they didn’t ask us to be a part of it. We should let all interested parties have an opportunity to examine the report and respond in time.”