IBANS makes commitment during pandemic

IBANS makes commitment during pandemic | Insurance Business

IBANS makes commitment during pandemic

The Insurance Brokers Association of Nova Scotia (IBANS) has released a statement declaring that its member brokers are “united” in their efforts to ensure that the concerns of their personal and commercial clients are heard in discussions within the insurance industry, as the COVID-19 situation continues to develop.

“We’re in unchartered territory and its important that the insurance industry stays close to commercial clients in this evolving situation. Insurance is a part of business, and we also want to be part of the solution,” said IBANS president Darren Lipsett.

IBANS currently represents over 1,000 licensed brokers across Nova Scotia, a release said.

The association revealed in its release that it has been working with the Insurance Brokers Association of Canada (IBAC) and other industry partners to create solutions for consumers, particularly as the COVID-19 pandemic has forced federal and provincial governments to enact policies that have impacted both personal and commercial clients.

Lipsett noted that it was thanks to these meetings with industry partners that Canadian drivers have seen more options to cut down their monthly insurance costs, through premium rebates and payment deferrals.

“It was the responsible and compassionate thing to do in response to these challenging times,” the association president remarked. “Conversations on behalf of commercial clients are ongoing and we’re working tirelessly in conversations with respect to more relief.” 

IBANS also said that brokers have been suggesting other actions to industry partners that can further support Canadian businesses, as their regular revenue streams potentially change in the face of the pandemic-affected landscape.

“We’re not just brokers, we’re small business owners and neighbours in your community,” Lipsett commented. “While many brokers are now working from home, we’re still ready and able to meet the unique needs of our clients. We’re in this together and brokers are here to support you.  Not just in time of crisis, but at any time, we stand with our customers – it’s quite simply what we do.”