Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 23rd of April 2017
October 16, 2012

BIBA chief executive to step down

by Gill Montia

Story link: BIBA chief executive to step down

Eric Galbraith, chief executive of the British Insurance Brokers’ Association (BIBA), is to step down next year after nearly 10 years at the helm. Mr Galbraith is credited with having driven forward representation and lobbying by BIBA in both Europe and the UK. In addition, he led the merger between BIBA and the Institute of […]



May 18, 2012

Brokers express concern about FSCS

by Richard Kilner

Story link: Brokers express concern about FSCS

A new survey from the British Insurance Brokers Association (BIBA) has revealed that regulation is the number one concern for insurance brokers. Three-quarters of those surveyed wanted reform of the Financial Services Compensation Scheme (FSCS) and nearly 90% wanted BIBA to convey the issue of proportionate regulation to the Government. One in ten of those […]



May 16, 2012

BIBA orders strategic review

by Gill Montia

Story link: BIBA orders strategic review

The British Insurance Brokers’ Association (BIBA) has appointed Deliottes to conduct a strategic review of the trade body following its merger with the Institute of Insurance Brokers (IIB) in November of last year. Opening the BIBA 2012 conference today, chief executive, Eric Galbraith, also warned brokers about political pressure in Europe for mandatory disclosure and […]



April 5, 2012

Better access to insurance for older customers

by Gill Montia

Story link: Better access to insurance for older customers

Older people should, in future, find it easier to get motor and travel insurance following an agreement between the Association of British Insurers (ABI), the Government and the British Insurance Brokers’ Association (BIBA). From 6th April, if an insurer or broker is unable to offer cover to an older motorist or traveller, due to upper […]



January 5, 2012

BIBA launches sanctions checking facility

by Gill Montia

Story link: BIBA launches sanctions checking facility

The British Insurance Brokers’ Association (BIBA) has launched a new sanctions checking facility that should help members comply with the Terrorism Act and the Financial Services Authority’s (FSA) financial crime requirements. The facility, which is provided by Sanctions Search, allows BIBA members to screen their client lists against HM Treasury’s UK Consolidated Financial Sanctions List, […]



November 1, 2011

BIBA and IIB commence merger

by Gill Montia

Story link: BIBA and IIB commence merger

The British Insurance Brokers’ Association (BIBA) is merging with the Institute of Insurance Brokers (IIB), with a number of IIB board directors joining BIBA’s board from today. Notably, IIB chief executive, Barbara Bradshaw, has become a BIBA board and executive member, reporting to the Association’s chief executive, Eric Galbraith. In her new role, she will […]



October 14, 2011

BIBA embraces “Shaping our Futures” theme

by Gill Montia

Story link: BIBA embraces “Shaping our Futures” theme

The British Insurance Brokers’ Association (BIBA) has embraced “Shaping our Futures” as its 2012 conference and exhibition theme. The title reflects BIBA’s role in picking up the issues affecting brokers and taking the lead in driving through change in the insurance industry, with the support of its members. A busy year ahead then, as economic […]



October 5, 2011

FSCS funding review revived

by Gill Montia

Story link: FSCS funding review revived

The Financial Services Authority (FSA) is to restart its Financial Services Compensation Scheme (FSCS) funding review. The review began in October 2009 but was put on hold 12 months later due to uncertainties around the impact on the FSCS of UK regulatory reform and ongoing developments in the EU. However, HM Treasury has now published […]



September 20, 2011

Homer named as new BIBA chairman

by Richard Kilner

Story link: Homer named as new BIBA chairman

The British Insurance Brokers’ Association (BIBA) has announced that Andy Homer will become the trade association’s chairman in January 2012. Homer was most recently the group chief executive officer of Towergate Insurance and will take up a non-executive position on the insurer’s board. He brings four decades of experience in the sector to his new […]



September 13, 2011

BIBA launches new website

by Gill Montia

Story link: BIBA launches new website

The British Insurance Brokers’ Association (BIBA) has relaunched its website as a central resource for members and included a new “Find a Broker” search facility aimed at promoting insurance brokers to customers. “Find a Broker” previously received around 30,000 hits per month and the upgrade includes a prominent “quick search” tab on the BIBA homepage, […]



August 8, 2011

BIBA endorses proposed FSA aggregator guidance

by Gill Montia

Story link: BIBA endorses proposed FSA aggregator guidance

The British Insurance Brokers’ Association (BIBA) has come out in favour of the Financial Services Authority’s (FSA) proposed guidance on the selling of general insurance policies through price comparison sites. Aggregators are not currently subject of any specific FSA rules and BIBA has fully endorsed the new draft guidelines, highlighting its top issues as follows: […]



June 20, 2011

BIBA welcomes CIE warning letters

by Gill Montia

Story link: BIBA welcomes CIE warning letters

The British Insurance Brokers’ Association (BIBA) has welcomed the new warning letters being sent from today to registered keepers identified as having an uninsured vehicle under Continuous Insurance Enforcement (CIE) legislation. CIE makes it an offence to keep an uninsured vehicle unless it has a Statutory Off Road Notification or is exempt, and it comes […]



June 13, 2011

BIBA presents FSCS funding review petition

by Gill Montia

Story link: BIBA presents FSCS funding review petition

The British Insurance Brokers’ Association (BIBA) has presented a 7,000 signature-strong petition to Parliament regarding the funding of the Financial Services Compensation Scheme (FSCS). BIBA argues that the increase in FSCS levies on insurance brokers during the last three years has been caused by the failures of credit brokers, who have mis-sold payment protection insurance. […]



May 26, 2011

BIBA backs anti-discrimination signposting proposals

by Gill Montia

Story link: BIBA backs anti-discrimination signposting proposals

The British Insurance Brokers’ Association (BIBA) has pledged its support for the Government’s signposting proposals, which are aimed at maximising the likelihood of older customers finding insurance. Signposting is a system whereby brokers and insurers will direct people to a suitable provider should they be refused cover on the basis of age, and the proposals […]



May 11, 2011

BIBA and IIB announce merger plans

by Gill Montia

Story link: BIBA and IIB announce merger plans

The British Insurance Brokers’ Association (BIBA) and the Institute of Insurance Brokers (IIB) have confirmed that they are in formal discussions regarding a merger. BIBA chairman, Patrick Smith, made the announcement during today’s opening address of the BIBA 2011 conference and exhibition in Manchester. The Association’s chief executive, Eric Galbraith, commented: “I strongly believe that […]



April 19, 2011

Brokers more burdened by regulation than tax

by Gill Montia

Story link: Brokers more burdened by regulation than tax

The British Insurance Brokers’ Association (BIBA) is arguing that the regulatory burden imposed on the UK insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays. Research from BIBA claims the current regime is “disproportionate and inappropriate” with costs for brokers in the UK currently three times higher than […]



April 11, 2011

BIBA adds petition to FSCS lobbying efforts

by Gill Montia

Story link: BIBA adds petition to FSCS lobbying efforts

The British Insurance Brokers’ Association (BIBA) has launched a member petition to be tabled in the House of Commons. It calls for HM Treasury to accelerate the Financial Services Authority’s review of the Financial Services Compensation Scheme consultation, with immediate effect. BIBA argues that the increase in FSCS levies on insurance brokers during the last […]



April 9, 2011

BIBA secures export credits guarantee deal

by Gill Montia

Story link: BIBA secures export credits guarantee deal

The British Insurance Brokers’ Association (BIBA) has secured an agreement with the Government’s Export Credits Guarantee Department (ECGD) to provide general insurance brokers with access to the ECGD’s export insurance scheme. The move means that BIBA members can now use the scheme to arrange insurance for UK exporters against non-payment by their overseas buyers. In […]



April 7, 2011

BIBA partners AllClear in extended travel offering

by Gill Montia

Story link: BIBA partners AllClear in extended travel offering

The British Insurance Brokers’ Association (BIBA) has appointed AllClear Insurance as the provider of its new non-standard medical travel scheme. AllClear is a market leader in providing travel insurance to those with pre-existing medical conditions and the move will allow BIBA to enhance its existing travel offering. Available from today, BIBA Medical Travel allows members […]



March 22, 2011

BIBA campaigns for fresh approach to broker regulation

by Gill Montia

Story link: BIBA campaigns for fresh approach to broker regulation

The British Insurance Brokers’ Association (BIBA) is calling for future broker regulation to focus on the “limited” risks that brokers actually pose in the financial sector and to the wider economy. According to BIBA research, regulation costs are currently three-times higher than the next most expensive European state. The point was illustrated by the Association […]