The Insurance and Investment Journal has learned that Desjardins Insurance will hold their last sales-volume based travel conference in 2018.

Earlier today Desjardins addressed its network of staff and advisors to inform them of the decision, which occurred after a recent review of practises.

Independent networks

In a statement provided by Desjardins, the company said, “Desjardins Insurance, in line with the recommendations from CLHIA’s report on insurance sales in Canada, reviewed the conference and travel incentives programs offered to its independent networks. As a result, these programs in their current form will cease in 2018. This applies to brokerage and independent networks affiliated with Desjardins Insurance. Starting in 2019, annual or biannual conferences will be replaced with new initiatives, which we are currently in the process of identifying.”

The decision by Desjardins follows an ever growing list of companies who announced an end to sales-volume based travel incentives. These include Great-West Life/ Canada Life, Manulife and RBC Insurance who made the decision in the past few weeks in the wake of the CLHIA report on Insurance Distribution.

The CLHIA report said travel incentives could contribute to a “perception of a conflict of interest.”