BIBA launches new insurance brokers committee
The British Insurance Brokers' Association (BIBA) has created a new insurance brokers standards committee in conjunction with the Insurance Brokers ‘Standards Council.
BIBA announced its intention to open discussions with the Insurance Brokers ‘Standards Council in May 2015 to explore how the two bodies could join forces to create a single voluntary code of conduct and guidance for insurance brokers.
The agreement follows more than 10 months of discussion between the two bodies and heralds a single voice for brokers.
Steve White, chief executive, BIBA, has announced that the discussions have been fruitful and with immediate effect would create the BIBA Insurance Brokers’ Standards Committee.
Paul Anscombe, chief executive officer of Seventeen Group and chair of the Insurance Brokers’ Standards Council, will now chair the new committee and will join the BIBA board as a main board director.
White said: “I am delighted that our two organisations have agreed to come together to provide guidance on broking standards and conduct. Paul’s experience will broaden our board and the new BIBA Insurance Brokers’ Standards Committee will benefit considerably from the input of others from his council’s team.
“I’m looking forward to the new committee coming together to set down this code, which was one of our 2016 Manifesto commitments. I would like to thank the previous members of and advisers to the Standards Council for their advice and guidance in this area, work that will continue to inform the creation of broking standards.”
Anscombe added: “I’m looking forward to formally becoming part of the BIBA team. This new framework provides an excellent opportunity to work with BIBA members and other experts to create a forward-looking framework of guidance for good practice that is both achievable and reasonable and created from member input.”
Lord Hunt of Wirral, BIBA chairman, commented: “This is a highly important move at a time of great change in our sector. As a profession it is vital to signal to customers the high standards to which we operate and for our members it is key to have a clear and concise set of principles to work with.”
