Exchange of views on improved economic prospects

The first IUCAB Executive Committee meeting in 2021 was held on 19th March 2021 virtually again due to the current situation. Olivier Mazoyer, as President, welcomed the Vice Presidents Mr. Enric Enrech from Spain, Mr. David Johnson from UK, Mrs. Eeva Pakkanen from Finland, Mr. Marco Righetti from Italy, Mr. Ralf Scholz from Germany, Mr. Axel Sturmberger from Austria and Mr. Christian Rebernig, IUCAB Secretary General to the meeting. Mr. Charles Cohon from USA as member-at-large was apologised.

Mr. Rebernig gave a short overview on the current developments regarding the vaccination situation and the projected economic recovery depending on the vaccination rollout. The Global GDP growth is expected to be 5.6% this year and will reach pre-pandemic levels by mid-2021 but much will depend on the race between vaccines and emerging variants of the virus.

Furthermore, he presented the preliminary results of the Covid-Survey which was conducted by the Spanish Members Association CGAC. The survey indicated that commercial agents may face a loss between 40 and 80% due to the pandemic. Fortunately, national governments support the profession with different measures, e.g. direct subsidies or deferral of taxes.

Mr. Rebernig gave an update on the current evaluation of the Vertical Block Exemption Regulation (VBER). It is expected that the EU Commission will publish a draft proposal in summer.

The IUCAB B2B platform was relaunched in 2020 and agents have now the possibility to create a public profile for free on the B2B platform to increase their visibility on the internet.

Networking, especially in these pandemic times, is ever more important. Therefore, a study is in preparation to explore the key variables that affect the relationship between agents and their principals. In addition, a partnership is to be set up to increase the visibility of the profession.

The next meeting of the Executive Committee will take place in autumn.