Daily Insurance Industry News
Daily Insurance Industry News
Friday 26th of April 2019
May 16, 2012

BIBA orders strategic review

by Gill Montia

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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 called for insurers to support unconditional risk transfer.

He went on to reveal that BIBA has appointed consultants and lawyers to find a solution to the structure of the Financial Services Compensation Scheme, which brokers considered to be unfair in its current form.

In addition, Mr Galbraith spoke about pressure on remuneration transparency, saying: “European political interference in the remuneration system could be a by product of the over zealous application of investment type rules into the general insurance sector.”


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