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«The abolition of the rule of 20 %, which will mark the end of the independent brokerage «, is concerned Robert Bournival

by

Hubert Roy

14 June, 2017 13:30

Robert Bournival | Photo : Réjean Meloche

For Robert Bournival, abolish the rule of 20 %, which will mark the end of the independent brokerage. And he refuses to sign anything that would go in this direction,-he said in interview to the Newspaper of insurance.

He invited independent dealers to do the same. And if he sees an interest on their part, it is ready to go knock on doors of mps and government officials to hear his message.

He also asked the Journal of the insurance to grant him an interview to discuss the issue. He also points out that brokers have asked to meet with the Newspaper, not wanting to do it themselves, for fear of retaliation.

«The 20 % current is sufficient»

Mr. Bournival takes position as a free agent. It no longer has an employment relationship with Deslauriers + Associates since June 1st. It still works as a consultant at the rate of three days per week. It will also offer its consulting services to other firms, the self-employed who feel the need to call him.

He said that he has confidence in the future of the brokerage. «Contrary to what thatIntact and theAlliance want to convey, we don’t need more involvement of insurers in the company’s shareholding structure. The 20 % current is sufficient to ensure the sustainability of the network, while keeping the independence of the brokers, with the threshold of 50% of shares with voting rights and the loans that it is possible to get. According to me, none of the firms in the Alliance has never had to worry about funding for any project. «

An advantage for a single insurer

And for Mr. Bournival, the proposal to abolish the rule of 20 % is not good for the brokerage. «It has not the advantage that a single insurer. It entails many risks for the network. In particular, by the decrease of the value of the firms that will ensue, but also by the capacity of a consolidator of very large-scale. It is too easy for a dominant supplier, such as Intact to take advantage of his position to put forward a proposal which goes against the interest of the dealers. When a small firm is to call it by its largest supplier, it is difficult to say no. «

«A firm that owned 100 % of an insurer is a» direct

He adds that a broker-dealer must be able to offer a choice and an impartial counsel for his client. «A firm that owned 100 % of an insurer cannot be a broker. It is a direct ! The council will still have its place in the future. People will still want to get help to choose their insurance coverage, » he says.

FlashFinance.ca, a publication sister-in-law of the of the insurance Journal, will publish other remarks of Mr. Bournival in its Monday issue. The print edition of June-July the Journal of the insurance, which will be available around the 27th of June, will publish a folder on the debate surrounding the rule of 20 %.

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