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Tracy Said:

How does the recession affect the insurance brokerage industry specifically in Canada?

We Answered:

It depends how people look at it. The smart ones realize that if you have $100,000 and times are good and you have to stroke a check for $50,000 it's not problem, but if you have $30,000 (since your investment portfolio took a crap kicking and the there's a chance you might lose your job during the recession) and you have to stroke a check for $50,000 then you've got a problem. The smart ones make sure they keep their insurance in place, so as long as you know enough smart people or can properly explain to the dumb ones how important insurance really is, then the recession doensn't affect the insurance industry at all.