IBAC followed up its words with action. In 2005, it commissioned Impact Public Affairs, an Ottawa-based public relations firm, to provide strategic advice in communicating the brokers' message to MPs. Provincial brokers' associations rallied brokers throughout he country, urging them to talk to MPs about the matter. The public war of words suggested the metaphor of tiny, unarmed David (representing independent brokers) slinging rocks at the giant Goliath (representing the awesome lobbying power of the banks). In a recent interview, for example, summing up the challenge for brokers, IBAC's CEO Dan Danyluk framed the situation as follows: "I think as brokers we recognize that the Canadian Bankers Association represents the largest and most powerful financial organizations in the country...The Canadian banks have had an amazing record of getting what they want. With the exception of insurance, the Big Six [banks] control 60-80% of most products. If you take a look at the OSFI [Office of the Superintendent of Financial Institutions] site, it's a bit startling. They've always gotten their way, and if you've always gotten your way, I guess you're always going to expect to get your way. I don't think they will stop fighting."

Brokers, for their part, are finally seeing the light at the end of the tunnel. Some have made highly qualified proclamations of success. "The government has advised us that they are going to maintain the current regulations on bank activity with respect to insurance, which is good," Doug Gueddes, the president of the Insurance Brokers Association of B.C., says. "We're pleased and relieved. We're actually out thanking the government for sticking to the commitment that they made before the election. We think it's great news for consumers and competition in the long run." Still, Gueddes says, echoing the views of other broker representatives across the country, it isn't clear yet whether the light brokers see is that of an oncoming train.

Those problems might yet include another election and minority government, Steven Wagler, the incoming president of the Insurance Brokers Association of Ontario, says. "We could face two elections," he says, referring to the past election and the possibility of an election in the future should the current minority government lose a non-confidence vote. He goes on to say the Bank Act issue "could be relevant again in a very short period of time. We're not anticipating that, but we're being prepared. We're not jumping up and down and saying 'Hurray,' because no victory's finished until the ink is dry, but I think we're more prepared than ever. The realization we've made is that the other ones are becoming better at their organized lobby efforts, so we're not done. This one's not over."

Canada's independent brokers so far have the upper hand in what is turning out to be an epic war against the nation's banks. This chronic professional turf war is rooted in a mandated review of Canada's Bank Act, first passed in 1871. The Bank Act is the federal legislation governing how banks operate in Canada. In Feb 2005, the Department of Finance released a consultation document seeking input on how the current Bank Act might be changed and improved. Brokers further warn that if insurance brokers were to be driven out of business, consumers would face less choice when it comes to purchasing their insurance products. Brokers nationwide credit the clarity of their message, which identified a victory for brokers as a victory for consumers. Most brokers are pessimistic about whether they can change the Bank Act legislation in such a way that they can avoid having to protect their livelihoods every five years.

Customer services
Competition
Impact analysis
Banks in insurance
Independent insurance agents & brokers
Bank Act-Canada