Manitoba Brokers Push for Fee Benefits

In homage to the well-known sports history of Brandon, Manitoba, the provincial broker’s association took “team spirit” as its theme for the recent annual convention. Insurance Brokers Association of Manitoba (IBAM) president Dale Rempel says the theme also reflects brokers within the province and across the country sharing knowledge and tackling issues together.

Among the issues Manitoba’s brokers will face in the coming year is the rewrite of the province’s Insurance Act. Two IBAM members are on the committee working on the changes, and amongst their priorities is the addition of fees for brokers. “We are the only province that does not allow fees as well as commission for brokers,” explains Rempel. Another issue is to put hail agent licensing and regulation under the Insurance Council rather than the superintendent of insurance. “By doing this, we would like to see mandatory continuing education and licensing exams like there are for all other [broker] licenses.”

Lastly, IBAM is lobbying for an increase in commission for brokers who provide driver licensing services, from $1 to $3.50. The commission rate has not been increased since 1991, Rempel notes, and a study of members providing the service showed an increase in their costs in the past 12 years.

The association would also like to recommend appointees for the Insurance Council, rather than having them politically appointed as is currently done, to get a better mix of members represented. In 2003, IBAM will be working with local insurance companies to build stronger relationships, and devising tools for brokers to help explain the hard market to clients. “The hard market is still around and looks like it’s here to stay for some time.”