Archive for the ‘Press Release’ Category

BIBA hosts pre-election forum to review the economic outlook and its impact on brokers

Monday, February 22nd, 2010

The British Insurance Brokers’ Association (BIBA) is to host a pre-election forum in Manchester. The event will aim to give brokers an insight into the economic outlook for 2010, the impact on their businesses and advice on ways of steering their way successfully through the continuing downturn.

The forum will take place at the City of Manchester Stadium on 25 March 2010 and will boast a panel of senior industry figures responding to the thoughts of Joe Suddaby, a leading analyst from independent corporate advisory firm, Lexicon. BIBA Chief Executive Eric Galbraith will chair the event. 

The sessions will give brokers a unique insight into how to take their businesses forward through this year and beyond. Mr Suddaby will provide an overview of the wider economic outlook for 2010, the possible change of government and how this could impact the insurance industry as a whole and brokers in particular. A panel of industry experts will explore some of the options for brokers to consider as they review their business plans. Discussions will include adopting new business practices to become more competitive, seeking the support of a network and “buy, sell or merge” strategies. A Q&A session will allow delegates to pose their own questions to the panellists as well as debate the presentations.

Peter Staddon, BIBA Head of Technical Services, says: “We know that getting through 2009 has been tough for our members and while they can take comfort from the fact that they’re weathering the storm, 2010 isn’t promising to be an easy ride. We’ve assembled a panel of some of the top minds in our industry to give brokers expert insight on the economy and its effect on insurance, and inspire them with solutions for embracing the challenges posed by it.”

This forum is free to BIBA members and is also open to non-members and will take place between 9am and 11am. There will be an opportunity for networking as well as a tour of the venue for those interested, and a light breakfast will be provided.

 -ends-

Notes to editors

1. For further information please contact :

BIBA press office:
Leighann Burtrand, Communications Manager
020 7397 0223
burtrandl@biba.org.uk

2. About British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes 1700 regulated firms. Insurance brokers and intermediaries distribute nearly two-thirds of all UK general insurance. In 2008, insurance brokers and intermediaries generated £1.5 billion of invisible earnings and they introduce £22 billion of premium income into London’s insurance market each year.

BIBA is the voice of the industry, advising members, the regulators, the Government, consumer bodies and other stakeholders on key insurance issues.  BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards. BIBA works closely with the Chartered Insurance Institute to provide training to those working in the industry and actively participates in helping the industry and its customers deal with some of the major issues of the day.

BIBA members provide professional advice to businesses and consumers, playing a key role in identification, measurement, management, control and transfer of risk.  They negotiate appropriate insurance protection tailored to individual needs and operate to a very high standard of customer service with the aim of ensuring peace of mind, security, financial protection and the professional advice required.

To find your nearest BIBA broker visit the ‘Find A Broker’ section of the BIBA website, www.biba.org.uk or call BIBA’s consumer helpline on 0870 950 1790

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Harris Balcombe welcomed into BIBA associate membership

Monday, February 1st, 2010

The British Insurance Brokers’ Association (BIBA) has welcomed Harris Balcombe, insurance claims specialists, into associate membership.

Harris Balcombe will bring in-depth industry knowledge and expertise on claims management to BIBA members and their clients.

Commenting, Eric Galbraith, BIBA Chief Executive, said: “We are delighted to welcome Harris Balcombe as an associate member of BIBA and look forward to working closely with them in the future.”

Nicholas Balcombe, Partner of Harris Balcombe LLP, comments:  “We are delighted to join BIBA and to bring our highly skilled negotiation and claims management specialism to this august body and we look forward to working with them.”

-ends-

Notes to editors

  • For further information please contact :

BIBA press office:
Leighann Burtrand, Communications Manager
020 7397 0223
burtrandl@biba.org.uk

  • About British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes 1700 regulated firms. Insurance brokers and intermediaries distribute nearly two-thirds of all UK general insurance. In 2008, insurance brokers and intermediaries generated £1.5 billion of invisible earnings and they introduce £22 billion of premium income into London’s insurance market each year.

BIBA is the voice of the industry, advising members, the regulators, the Government, consumer bodies and other stakeholders on key insurance issues.  BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards. BIBA works closely with the Chartered Insurance Institute to provide training to those working in the industry and actively participates in helping the industry and its customers deal with some of the major issues of the day.

BIBA members provide professional advice to businesses and consumers, playing a key role in identification, measurement, management, control and transfer of risk.  They negotiate appropriate insurance protection tailored to individual needs and operate to a very high standard of customer service with the aim of ensuring peace of mind, security, financial protection and the professional advice required.

To find your nearest BIBA broker visit the ‘Find A Broker’ section of the BIBA website, www.biba.org.uk or call BIBA’s consumer helpline on 0870 950 1790

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BIBA welcomes Government signposting proposals to help customers find insurance

Friday, January 29th, 2010

The British Insurance Brokers’ Association (BIBA) has welcomed the new Policy Statement from the Government’s Equality Office.  Proposed new measures will help ensure that customers can obtain the insurance they require and which is right for them. For example, an older traveller with a medical condition who has experienced some difficulty in finding travel insurance.

 The proposed new laws will make it compulsory for insurance providers who decline to provide cover (e.g. because of a persons age), to refer customers to a more appropriate source, like a specialist insurance broker, or to a signposting system.   BIBA describes ‘signposting’ as a way of helping consumers who are turned down at point of sale (telephone, internet, face to face) to be directed to an independent source of information  that can offer assistance in finding  the relevant insurance cover.

Signposting will greatly benefit customers who may be considered as non standard risks, such as younger drivers.  Currently when these customers are refused cover by an insurer they are left to continue their search alone without knowledge that insurance is available or where to obtain it.   The signposting/referral system will be of particular help with motor and travel insurance as these are the areas identified where some people have difficulty finding an insurance policy.

BIBA has been calling for greater assistance for customers and is delighted that signposting will become compulsory.   BIBA has an established and successful ‘Find a Broker’ helpline and website that already helps customers to find a specialist insurance broker who can provide suitable insurance.  However, BIBA believes there are many more consumers who are refused cover from comparison sites and direct insurers who are unaware of this helpful service and that an insurance broker can insure them.  

Graeme Trudgill, BIBA Technical and Corporate Affairs Executive, said: “There is a solution through insurance brokers who can cover extremely difficult risks. It really is just a case of knowing where to go. This new requirement for signposting, once introduced, will help customers to find the protection they need, otherwise they run the risk of travelling uninsured, we know of some that have even decided not to go on holiday as they could not find insurance.”

Peter Staddon, BIBA Head of Technical Services, added: “BIBA will continue to work with the Government to ensure the appropriate signposting and referral systems are put in place.”

The BIBA find a broker helpline and website is well established and takes more than 340,000 enquires per year from customers who have been signposted from a range of consumer bodies and BIBA hopes that its service will form part of the formal signposting system as it has already proven to assist customers in finding all types of insurance.

BIBA welcomes any signposting solution and can help support it by way of the local rate Find a broker helpline 0870 950 1790 or website at www.biba.org.uk

CASE STUDY

Mrs Ellis needed to find insurance for her daughter’s car which was in France but would be returning to the UK.  Having trawled the internet and spoken to a number of different insurers for nearly three hours she was becoming increasingly frustrated at her lack of progress.   It was important to Mrs Ellis that everything was done correctly and that the correct insurance was put in place.  Fortunately, it was suggested to Mrs Ellis that she call the BIBA Find a Broker helpline, she did and with the help from a BIBA insurance broker, was guided through the process and found a suitable solution.

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BIBA board boosted with two new appointments

Tuesday, January 19th, 2010

The British Insurance Brokers’ Association (BIBA) has announced the appointments of Brendan McManus, Chief Executive of Willis UK & Ireland and Ken Davidson, Chairman of Crispin Speers, to its board.

Brendan, who has invaluable experience of broking and the general insurance market, and Ken, Chairman of BIBA’s London Market Regional Committee (LMRC), will join the board at its next meeting on 26 January 2010.

Eric Galbraith, BIBA Chief Executive, said: “I look forward to welcoming Brendan and Ken to the board as I know that they will both bring invaluable understanding and experience of the broker market.”

Brendan commented: “I look forward to getting involved and representing BIBA members on the many challenges that they face during 2010 and beyond.”
Ken added: “It has been very rewarding to chair BIBA’s LMRC and I now look forward to representing the wider issues affecting all BIBA members.“

Brendan joined Willis in 2007 from Royal & SunAlliance (RSA) where he was Managing Director of the broker business, a role he held for three years after working in several different capacities.

Ken is a Past President of the Chartered Insurance Institute, Chairman of Crispin Speers&Partners, Lloyds Brokers and Chairman of several companies in the insurance/financial services industry.

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