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 [...]
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. [...]
BIBA demands speedier FSCS review
by Gill Montia
Story link: BIBA demands speedier FSCS review
The British Insurance Brokers’ Association (BIBA) is calling on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS). The Association’s chief executive, Eric Galbraith, is clearly alarmed by recent comments from the FSA which suggest the review might not be as high a priority for the regulator [...]
BIBA reminder on Continuous Insurance Enforcement
by Gill Montia
Story link: BIBA reminder on Continuous Insurance Enforcement
The British Insurance Brokers’ Association (BIBA), in conjunction with the DVLA and the Motor Insurers’ Bureau (MIB), is reminding motorist that a new law, to be rolled out in late Spring, will mean that they must keep a vehicle insured unless they have notified the DVLA that it is being kept off-road. Details of the [...]
BIBA partners Perkins Slade in credit management offering
by Gill Montia
Story link: BIBA partners Perkins Slade in credit management offering
The British Insurance Brokers’ Association (BIBA) has appointed Perkins Slade as a scheme provider for credit management products and services. The new scheme, exclusively for BIBA members, includes special commission arrangements, preferential rates and a wider scope of cover and product offerings. In addition, BIBA members can gain access to advice on credit risks and [...]
Brokers tested over claims negotiations
by Gill Montia
Story link: Brokers tested over claims negotiations
New research from the British Insurance Brokers’ Association (BIBA) suggests that brokers are having to fight harder to get claims paid, with the body blaming stricter policy interpretations and insurers’ anti-fraud systems for the struggle. Sixty-seven per cent of BIBA members questioned said they had to get tough with insurers on behalf of customers, and [...]
Emergency budget threatens 5% IPT rate
by Gill Montia
Story link: Emergency budget threatens 5% IPT rate
The likelihood that tax rises included in this month’s emergency Budget will embrace Insurance Premium Tax (IPT) has prompted the British Insurance Brokers’ Association (BIBA) to warn that such a move would prove counter-productive. The IPT rate currently stands at 5% and according to BIBA, a rise would only discourage recession-weary individuals and small firms [...]
BIBA celebrates reduced FSA levies for intermediaries
by Gill Montia
Story link: BIBA celebrates reduced FSA levies for intermediaries
The British Insurance Brokers’ Association (BIBA) is celebrating a successful campaign over the levies payable to the Financial Services Authority (FSA) by insurance intermediaries. The regulator has today published a policy statement setting out its final decision on the level of regulatory fees and levies for the 2009/2010 financial year. The document reveals that a [...]
Recession ravaged consumers cut home and motor cover
by Gill Montia
Story link: Recession ravaged consumers cut home and motor cover
The British Insurance Brokers’ Association (BIBA) has published new research showing that consumers are reducing insurance cover as a result of the recession, with home and motor insurance taking the brunt. In a survey of its members, the body found 23% of respondents had seen their personal lines customers reduce their level of insurance protection [...]
Biba and AIFA may forge closer links
by Gill Montia
Story link: Biba and AIFA may forge closer links
The British Insurance Brokers’ Association (Biba) has indicated that it may be looking to forge closer links with the Association of Independent Financial Advisers (AIFA). In the early part of this year, both organisations denied rumours that they could merge but about a fortnight ago the London Market Insurance Brokers’ Committee (LMIBC) announced that it [...]
