Home Breadcrumb caret News Breadcrumb caret Industry IBAC and Broker Perpetuation Fresh from recent successes in the Bank Act review and disclosure regulation issues, IBAC is now charting a course to help brokers to sell their businesses to fellow brokers By Canadian Underwriter | October 31, 2006 | Last updated on October 1, 2024 2 min read Plus Icon Image P.E.I. Premier Pat Binns|Larry Kozakevich|IBAC’s 2006-07 board members.|Former IBAC president Keith Wilson is recognized after the end of his term on the IBAC board.|Bob Kimball wished Larry Kozakevich well in his new role as IBAC president.|IBAC past president Bob Kimball (left) and current IBAC president Larry Kozakevich (right) met with P.E.I. Premier Pat Binns.|A walking tour taught us all about P.E.I.’s contribution to Confederation.|Can you ever really visit Charlottetown without visiting Green Gables?|P.E.I.’s legislative building.|IBAC CEO Dan Danyluk thanks AGM organizer Dianne Weatherbie for her hard work.|The President’s Dinner treated us to some local folk music by Hedgerow.|The Dunes Gallery was one of the key features of an afternoon bus tour.|IBAO past president Dave Hare and his wife Donna attended the President’s reception. September 28-30, 2006 Hi Mom, I am writing you from the Insurance Brokers Association of Canada (IBAC)’s annual general meeting, which is being held this year in sunny P.E.I. Pictured on this post card is the new president of IBAC, Larry Kozakevich of Saskatchewan. Here in P.E.I., he succeeded IBAC past president Bob Kimball. Mr. Kozakevich told everyone at the meeting that one of his biggest priorities is “broker perpetuation.” He said IBAC would soon be launching a resource centre that will provide information and options to brokers who want to get out of the business. The idea is to help brokers sell their business to other brokers (instead of, for example, selling their businesses to non-brokers like direct writers). “We are now in the process of creating a brokers’ perpetuation resource center,” Mr. Kozakevich announced. “Its goal will be to provide advice and expertise on winding up a brokerage when the principals are looking at selling. When this is up and running, it will be a resource that will also be of value to the perpetuation of our profession.” Mr. Kozakevich said surveys show most small businesses do not have any perpetuation plans or strategies in place. “We must provide business owners with all of the information possible on options that are not only in their best interests, but also those that are in the best interests of the profession,” he said. So there you have it, Mom, all the news that’s fit to print. I’ve enclosed a few photos of the meeting here in Charlottetown. See you soon, David Gambrill P.S. Thanks for the care package, but I think I’ve had enough good seafood to last me the year! Canadian Underwriter Print Group 8 LinkedIn LI X (Twitter) logo Facebook Print Group 8
