Protecting our future

Transcription

1 British Insurance Brokers Association 8th Floor John Stow House 18 Bevis Marks London EC3A 7JB Find a Broker helpline: Member Helpline: Fax: enquiries@biba.org.uk British Insurance Brokers Association Manifesto 2013 Protecting our future Follow BIBA broker Group BIBA Eric Galbraith Chief Executive +44 (0) (0) galbraithe@biba.org.uk Graeme Trudgill Head of Corporate Affairs +44 (0) (0) trudgillg@biba.org.uk Leighann Forsyth Head of Communications +44 (0) (0) forsythl@biba.org.uk The best Insurance is a Designed by beetroot ( ) BIBA broker 32 1

2 About us Introduction 2 The British Insurance Brokers Association (BIBA) is the UK s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers. Insurance brokers put the client s interests first, they are the agent of the customer and the insurer. They can provide advice, access to suitable insurance protection and risk management. Attributed to: 1 ABI 2 ABI 3 BIBA 4 BIBA 5 The contribution of insurance brokers to the UK economy Report to BIBA/Prepared by London Economics BIBA and our members are committed to working with government, businesses, regulators, insurers and consumer bodies to help ensure a sustainable recovery and create growth for the UK economy in the general insurance sector. Speaking at the insurance summit in February 2012, the Prime Minister said: I want to look at what action we can take to bring down insurance premiums and bring down the cost for drivers, families, consumers and businesses. BIBA spent 2012 actively working to deliver this. BIBA members will continue to play a significant role and our 2013 Manifesto outlines a number of key areas where we can help meet customer needs, manage risks and support families and jobs is a year of change with the revised Insurance Mediation Directive (IMD) developing in Europe, the Financial Conduct Authority (FCA) replacing the Financial Services Authority (FSA) and new insurance legislation from the Law Commission. We recognise and support the need for appropriate regulation of financial services and are looking for the right balance ensuring suitable customer protection aligned with proportionate regulation of insurance intermediaries. Our members include large and small businesses who want to cooperate with the government, to help the wider economy with new innovations and growth. Brokers are not insurers, they do not carry the insurance risk and we are calling for the FCA to recognise this by having a more cost-effective approach to supervising our sector. BIBA will continue to work with government and other stakeholders on solutions in areas such as flooding, motor insurance premiums, the Employers Liability Tracing Office, the Equality Act and signposting, underinsurance, business resilience and continuity is an important year for the UK, BIBA and our members will play a key role. Eric Galbraith BIBA Chief Executive 3

3 BIBA s 2013 top aims Campaigning issues 2013 Improving the insurance experience for customers Too many customers still struggle to access suitable insurance. BIBA will aim to help more people access cover through signposting to a member firm which can provide a solution for general, specialist and higher risk customers. BIBA will also aim to facilitate a solution for the future of flood insurance and will help to raise awareness and improve understanding of the consequences of underinsurance. Better Insurance Law BIBA supports changes to insurance law from the Law Commission that ensures better clarity for consumers and businesses, and a competitive and fair legal framework for the insurance industry. The right regulation the FCA BIBA wants a regulator that is strong while at the same time ensuring an appropriate, proportionate and cost-effective approach to regulation which recognises the low risk nature of general insurance brokers who do not carry insurance risk. Fairer compensation BIBA has submitted a fairer compensation model for the Financial Services Compensation Scheme (FSCS) that continues to offer compensation and sustainable protection for customers while ensuring fairness to insurance intermediaries in the way it is constructed. Reducing the cost of motor insurance Motor insurance costs are too high and we want to see them reduced. BIBA has an eight point plan to reduce costs including tackling fraudulent claims, excessive claims management costs, application fraud and helping young drivers. Revised European Insurance Mediation Directive (IMD2) The new Insurance Mediation Directive should ensure a level playing field for customers. Our aim is to see the same requirements on disclosure and transparency applying to all sellers of insurance, direct insurers, intermediaries, brokers or declared intermediaries and comparison websites. Meeting customers needs 1. Promoting access to suitable insurance protection 2. Mitigating the impact of floods and major catastrophes 3. Reducing the cost of motor insurance 4. Helping customer compensation (Employers liability) 5. Reform of insurance law Managing risks and supporting jobs and growth 6. Guarding against underinsurance 7. Tackling fraud 8. Promoting business continuity 9. Developing careers in the broking industry 10. Promoting international competitiveness 11. Developing the insurance industry Promoting fairer regulation 12. Regulation by the new Financial Conduct Authority (FCA) 13. Threshold condition four adequate resources 14. The protection of client money 15. Revision of the EU Insurance Mediation Directive (IMD) 16. Financial Services Compensation Scheme (FSCS) Reform 4 5

4 Meeting customer needs 1Our members focus is on helping Insurance consumers and businesses access all types of suitable insurance. Promoting access to suitable insurance protection However, millions of people seeking insurance fall outside of what is regarded as a standard risk and it is often the case that consumers are rejected by online providers. Applications for general insurance cover may be refused outright (for example an older traveller with a medical condition). Yet there is no market failure simply a lack of awareness of where to access fairly priced cover which is available through insurance brokers for all types of risks. The financial services sector is extremely complicated and even a travel insurance policy can contain more than 25 sections. brokers can help guide customers to a fair solution. BIBA s Find a Broker service already helps more than 400,000 customers a year to access insurance protection and the new signposting agreement with government will help older people more easily access cover. We are calling on government, the industry and consumer bodies to help customers more easily understand and access important insurance protection that meets their needs. We will work with the Money Advice Service and others to improve awareness, signposting and access. Case Study Customers have told us how valuable signposting can be: 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 she was becoming increasingly frustrated at her lack of progress. It was important to Mrs Ellis 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 of a BIBA insurance broker, was guided through the process and found a suitable solution. 6 7

5 Attributed to: 1 Debarati Guha-Sapir, Centre for Research on the Epidemiology of Disasters, Brussels Mitigating the impact of floods and major catastrophes 2Maintaining flood insurance cover for all homes and businesses in the UK is a difficult task considering that the UK has the highest economic loss from flood claims in Europe 1. BIBA is a member of the government flood insurance working groups, formed to examine options for a replacement to the Association of British Insurers (ABI) Statement of Principles. We are calling for increased co-operation with regard to flood protection between the public and private sectors. BIBA will continue to work closely with government and our members to provide innovative solutions that will provide the availability of flood cover and fair pricing through specialist insurance brokers. BIBA members can insure the vast majority of flood zone properties. However, BIBA believes that a reinsurance solution is key to the long term future of flood cover and we are calling for cooperation between government and insurers in order to achieve this. 3 Reducing the cost of motor insurance Action required to reduce the cost of motor insurance BIBA attended the government s Cost of Motor Insurance Summit and is committed to working with Downing Street, the Office of Fair Trading, the BIBA has an eight point plan to reduce motor insurance costs: 1. BIBA welcomes the Ministry of Justice consultation Reducing the number and cost of whiplash claims. We support the proposal for an independent medical panel to diagnose genuine injuries. In a broker survey conducted by BIBA in November 2012 over 71% of respondents stated the class of insurance that caused the most concern regarding fraud, was motor. 2. We believe that activities by a number of claims management companies (CMCs) are causing consumer detriment as well as adding significant costs to motorists premiums. A framework of more appropriate supervision of CMCs is the long-term solution. Specifically, the application of the FSA s 11 Principles for Businesses to CMCs is the fair and reasonable way forward to lead to better outcomes for motorists. 3. Provide the insurance industry access to DVLA driver licence records to reduce motor insurance application fraud. Competition Commission, the Financial Services Authority, the Department for Transport, DVLA, Treasury and the Ministry of Justice s Claims Management Regulation Unit to ensure better outcomes for motorists. 4. Promote the system of signposting to help people access suitable insurance, particularly for young and convicted drivers. 5. Review the implementation of the FSA s guidelines for the selling of general insurance policies through price comparison websites, published in October Young driver risk and safety - Review the Pass Plus system, the driving test to take account of hazard perception, situational judgment and attitude awareness and develop the wider use of telematics technology and lower the age that drivers can begin to learn driving to Reform the Northern Ireland legal system with regard to the handling of personal injury claims which is overly costly and leads to higher premiums. 8. Greater promotion of Continuous Insurance Enforcement by government to reduce the cost of uninsured driving. 8 9

6 4 The Helping customer compensation the new Employers Liability Database (ELD) It is often difficult for victims of long-tail disease claims to find the relevant insurer dating back 20 years or more, particularly for asbestos related claims. This is difficult because employers and insurers may not have the historical records to substantiate an insurance claim. The new ELD has been established by the Employers Liability Tracing Office (ELTO) to improve access to compensation for victims. Employer Reference Numbers (ERNs) are a mandatory component for the population of the new ELD. problem The current ERN population success rate is of major concern. We believe that problems in collection have occurred because of an unwillingness to supply the information at small business level. This is due to the alignment of ERNs with the PAYE system and the lack of industry access to the existing HM Revenue and Customs (HMRC) records. BIBA will help to introduce the new ELD in conjunction with ELTO to help victims of long-tail disease claims to more easily receive compensation than has been the case to date. Reform of insurance law 5Current insurance law is more than 100 years old and is in need of reform. BIBA supports the new law for 2013 on Consumer Insurance (Disclosure and Representations) Act We want the Law Commission to ensure new improved laws providing clarity over the disclosure of risk information that are fairer to both customers and insurance intermediaries. We will work with the industry and customer representatives to ensure a smooth transition to this new structure and will engage with the Law Commission on their forthcoming proposals to insurance law affecting businesses. BIBA is fully committed to the success of ELTO, but we do need support from government. We are calling on government to make Employer Reference Number (ERN) data more accessible to the insurance industry to ensure the database is robust and customers have an improved journey to receiving their compensation. The solutions 1. Where HMRC has the information, we would like to see this ERN data made available to the industry or directly to ELTO and are calling on Department for Work and Pensions (DWP) to support this. 2. Further education of the business community is also required in order to reiterate why this information is needed. BIBA is calling for: An education programme from all relevant stakeholders and driven by DWP and HMRC who allocate these numbers

7 Managing risks and supporting jobs and growth Guarding against underinsurance 6Obtaining the right amount of insurance is critical. Customers should not pay for too much but more importantly they should ensure they have sufficient cover to protect them against a loss. Whether it be a consumer insuring their home or a business calculating the business interruption indemnity period on its commercial policy it is important to get it right. BIBA will work closely with the insurance sector and other stakeholders to produce a guide for customers and raise awareness of the consequences of not having suitable insurance cover in the event of a claim. Tackling fraud 7The average cost of insurance fraud to every innocent customer is 50 per policy per annum. 1 Insurance brokers and their customers can all fall victim to fraud. In a broker survey conducted by BIBA in November 2012, when asked how big an issue is insurance fraud for customers at the moment, 85% of respondents said it was a significant or slight concern. We will work with government and anti-fraud organisations including the Insurance Fraud Bureau to reduce misrepresentation and application fraud. 12 Attributed to: ¹ Insurance Fraud Bureau 13

8 Promoting business continuity 8Business continuity requires building resilience into a business and preparing strategies for trading through an incident. BIBA research undertaken with the Cabinet Office shows that 62% of insurance industry respondents said that those organisations with a business continuity plan (BCP) would benefit from a greater choice of insurer, a premium discount or a reduced excess. BIBA will continue to work to raise awareness of the importance of BCPs, protecting jobs and the growth of business in the UK including promotion of the new Business Continuity for Dummies and SME insurance for Dummies. Developing careers in the broking industry 9Our members employ more than 100,000 staff, operate from more than 2,500 branches and help promote competition and innovation in the global insurance market place. Working in insurance can provide many opportunities for a rewarding and lifelong career. We will work with the Department for Work and Pensions and others in promoting careers in insurance broking and growth in our sector. 10 Promoting international competitiveness UK brokers trade worldwide and the London Market accounted for around billion premium income in 2011 making it one of the leading global markets for internationally traded insurance. 1 London is a stable, professional market with a great reputation for paying claims and for writing large complex risks worldwide. Innovation and expertise is at the heart of this market. However we are facing an increasing number of European Directives and proposals that threaten the UK competitiveness. 11For customers to receive a positive Developing the insurance industry outcome for their insurance needs it is important for brokers and insurers to work together. We will work with the government and our European Federation BIPAR 2 to engage proactively with the European Commission to ensure that the regulatory, fiscal and legislative environment does not adversely affect our members competitiveness and create barriers to growth for UK brokers. BIBA will support growth in international trade and will continue to work with UK Export Finance, enabling businesses to trade in emerging markets by accessing critical and difficult to obtain cover. BIBA will commit resources to progressing issues within the Broker Insurer Forum between BIBA and the ABI and will provide a strong platform to take forward Industry issues. Including terms of business, disputes, sanctions checking, claims handling, qualifications and professionalism. 1 Source: IUA, London company market statistics report, October European Federation of Insurance Intermediaries 14 15

9 Promoting fairer regulation Reform of the UK regulatory architecture Our members recognise the need for regulation. To facilitate innovation and growth we are calling for a more appropriate, proportionate and cost-effective approach to regulation with specific regulatory consideration for general insurance brokers and other insurance intermediaries. 12 BIBA Regulation by the new Financial Conduct Authority (FCA) fully supports the concept of appropriate, proportionate and cost-effective regulation. However, we do not believe the Financial Services Authority (FSA) has delivered on this criteria in the way that it regulates and supervises general insurance brokers. Now is the opportunity for change with the Financial Conduct Authority (FCA) replacing the FSA. We have published independent research which highlights the high cost of regulation, other issues and suggests a more suitable approach. The risks, the FSA approach and the resulting costs The independent Future Regulation of Insurance Brokers research, written by Charles Rivers Associates (CRA) concluded that systemic risk does not arise from brokers. Brokers are distinct from insurance companies since they do not hold insurance risk. The CRA research suggests that a more proportionate and appropriate regime could be achieved by a regulatory and supervisory approach more aligned to the limited identified risks that insurance brokers pose to the regulator s objectives. It also suggests that a more rulesbased (rather than outcomes or principles-based) approach on areas like capital requirements would give firms, especially the largest ones, the certainty they and the rest of the regulated community need and does not tie up capital in these low risk firms. Without action we risk harming some of the most productive parts of our economy as well as its competitive position from a global perspective. Some of our members have advised it may no longer be commercially viable to operate in some sectors of the personal lines market and they could withdraw completely. BIBA believes the regulator should have regard to the differing degrees of risk in the different categories of regulatory activity. Sector by sector scrutiny is more appropriate than a one size fits all approach. 17

10 Direct and indirect regulatory costs for insurance intermediaries in the UK and Europe Regulatory costs as a proportion of general insurance intermediation revenue Indirect cost Direct cost 14 When The protection of client money a broker collects a premium, they hold the money in an agency capacity either for the customer or the insurer. When holding the money as agent of the customer, the FSA s Client Money rules apply. Where the money is held as agent of the insurer these monies are known as risk transferred. effectiveness of controls over risk transfer money held by brokers. We are aiming to give greater confidence to clients, the market and the regulator during the economic crisis. We are working on an approach to risk transfer which would allow the market to adopt a single standard for providing assurance to insurers over the design, implementation and operating BIBA calls for insurers to fully co-operate with this initiative for the benefit of customers in order to achieve unconditional risk transfer across the market. 13 It Threshold condition four adequate resources is our view that if the regulator requires firms to hold more capital it should be on the basis of consulted upon and costed rules, rather than the judgmental approach that currently exists. Improvement to this could release capital to assist growth. This by the back door approach to regulation without consultation is disproportionate and must be reviewed. We are calling for a review of the regulator s approach to threshold condition 4 adequate resources to improve clarity, ensure it is proportionate to help support growth

11 15 IMD Revision of the EU Insurance Mediation Directive (IMD) Level Playing Field The IMD is the European directive that sets regulatory rules for insurance brokers which are implemented in the UK by the regulator. The IMD is currently being revised by the European Commission and we want to see its broad scope maintained. It is important that customers receive a consistent and appropriate suite of disclosures wherever they buy their insurance and we believe all insurance sellers, whether they be comparison websites or travel agents, have to follow the same regulations. From a competition perspective it is essential that a level playing field with alternative forms of distribution such as declared intermediaries and direct writers, is established. In particular in the area of information disclosure, such as statements of demands and needs, breadth of choice, suitability of advice and disclosure of remuneration. It is essential that We call on decision makers within the European Commission to provide a level playing field for insurance brokers and their customers through the reform of the EU Insurance Mediation Directive. BIBA welcomes a number of proposals in the revision of the Insurance Mediation Directive (IMD2), including the widening of the scope to include all those selling insurance. However, we have concerns with a number of areas that could lead to consumer detriment and distortion of market competition. Level playing field the customer is provided with the same information, irrespective of the form of distribution. In addition, in order to avoid distortion of competition, there is an absolute need for ensuring a level playing field by requiring direct insurers to disclose comparable acquisition costs equivalent to those of brokers. Transparency and disclosure of remuneration We support the existing UK position of disclosure upon request. No evidence exists showing that compulsory automatic disclosure of commission by insurance intermediaries as proposed by the EU will yield significant benefits to customers of insurance intermediaries. Our analysis of available information indicates that a mandatory disclosure regime for non-investment insurance neither meets in any way nor reflects the views of major stakeholders. Neither EIOPA 1, UEAPME 2, BIBA, BIPAR 3, or insurers agree with mandatory disclosure and it was not supported by the PWC 4 study on the impact of the revision of the Insurance Mediation Directive Final Report, prepared for the European Commission DG Internal Market and Services. Transparency and disclosure of remuneration BIBA was involved in the establishment of Industry Guidance for the concept of commission disclosure upon request. If disclosure upon request is required then there must be a level playing field with all other providers of insurance across Europe. However, the Commission is now proposing to mandate disclosure of remuneration five years from the publication of the Directive. In addition, a new requirement to disclose the nature and basis of the calculation of any variable remuneration received by the sales employees of insurers and intermediaries has been introduced. This will not benefit customers but could disadvantage brokers and stifle growth. BIBA will lobby for the UK position of disclosure upon request within IMD 2. 1 EIOPA (European Insurance and Occupational Pensions Authority) (formerly CEIOPS) 2 UEAPME (The European Association of Craft, Small and Medium-sized Enterprise) 3 European Federation of Insurance Intermediaries 4 Price water house Coopers (PWC) study (ETD/2007/IM/B2/51) Final 20 21

12 Revision of the EU Insurance Mediation Directive (IMD) continued Declaration at point of registration In the IMD2, it is suggested that intermediaries may have to declare, with the regulator at the point of registration, whether they will represent the customer or act on behalf of the insurer and whether they offer advice. However, brokers act for both the customer and insurer and this is on Declaration at point of registration The pan-european intermediary view is that this must remain a disclosure made on a contract by currently explained at point of sale as part of initial disclosures, on a contract-by-contract basis. We believe that brokers cannot commit at the point of registration because, who they represent, may change on a contract by contract basis. This could potentially and very seriously jeopardise existing business models across Europe. contract basis and we will be preparing draft Directive text amendments to this effect. 16 BIBA Reform of the Financial Services Compensation Scheme (FSCS) fully supports the concept of compensation we believe it is an important tool in both consumer protection and increasing consumer confidence in financial services. Our concerns are how the funding of the current FSCS model works and the proposed changes which we believe are a backward step. BIBA has proposed an alternative fairer structure for the FSCS funding model, which was produced on its behalf by consultants Oxera. BIBA believes that the suggested structure put forward in the FSA s consultation paper creates unnatural and unequal crosssubsidies where insurance brokers are exposed to possible failures in the IFA sector and it takes insurers away from their responsibility for product sales on intermediated business. a solution for the FSA to identify pure insurance brokers by looking at a firm s permissions, their regulated income and their total number of insurance sales. BIBA s proposal included an economic analysis of FSCS funding by the insurance intermediary sub-class and also incorporated the work that BIBA commissioned Beachcroft LLP to conduct, in order to identify a legal definition of a pure insurance broker. Achieving a sub class for pure insurance brokers would mean that brokers are ring-fenced from other intermediaries such as credit brokers whose payment protection insurance failures have led to increased fees for insurance brokers in recent years. Our proposed alternative structure includes a separate sub-class for pure insurance brokers, and retains insurers in the cross subsidy part of the model to ensure greater financial responsibility for the mis-selling of their products. Not only does BIBA s proposal put forward an economically justified and sustainable funding model for the future, but it also provides Key components of this alternative solution include: 1. A separate class for professional insurance brokers we are proposing a new practical definition to allow this. 2. A cross-subsidisation which reintroduces responsibility to insurers

13 How brokers help customers General insurance brokers and intermediaries will help businesses and individuals find suitable solutions to manage their risks. They are regulated by the Financial Services Authority (FSA). Brokers are the agent of the customer and the insurance company. They work in the customer s best interests, providing advice, guidance and choice on a range of risk management services and insurance products. They can assist with identification, measurement, management and control of risk, arrange appropriate insurance solutions and represent their client in the negotiation of claims settlements. Our members treat customers fairly. They will: l Focus on the customer s needs l Make sure the customer understands what is, and is not, covered l Make choices clear by advising of the range of products or services they offer l Explain any professional advice they give clearly and honestly l Clearly state the costs of the policy including any fees they may charge l Provide clear information and documents as well as any help needed with the paperwork to make sure the policy is issued promptly l Help the client get their claim paid Right: The Thornton s Cycle Centre team up and running in its temporary premises Case Study Having been victims of a devastating arson attack in January 2010, we were completely overwhelmed by the enormity of the situation. We did not know what or how to go about trying to sort things out. By 9am our insurance broker Adrian Sutton, of Douglas Insurance Services, had heard about the fire and was immediately on site and actively sorting out the situation. By 12.30pm our broker had us viewing temporary premises, by 2 pm we had met the loss adjuster who arranged for the salvage team to start clearing the property and by 4 pm the property had been boarded up, made safe and we felt we could leave. Our broker continued to work late into the evening and the next day was back on site with lots of ideas for publicity and the new temporary premises. He could see we were still completely shell-shocked by the events and continued to support us over the weekend popping round to the shop and ringing to check on progress of the stock take every day. Even now as things have calmed down and business is picking up, our broker is continuing to help with the claims presentation and is on hand if anything crops up that we are unsure of. We feel that the support, help and advice we have received since that fateful evening has been incalculable. Without our broker we would not have re-opened Thornton s Cycle Centre two weeks after a fire which destroyed all our stock. In fact we probably would not be open even now. David and Nicola Thornton Partners of Thornton s Cycle Centre BIBA broker code of conduct BIBA supports the Chartered Insurance Institute s code of ethics and the Aldermanbury declaration and as part of our strategic review will look to develop a members principles based code during 2013 to further promote high ethical and business standards

14 What BIBA does for members BIBA membership pays for itself through the business we generate for members, the promotional opportunities we provide, the negative regulation we prevent e.g. midata, the market problems we resolve, the training opportunities we provide, the schemes and facilities we manage, the sanctions checking facility we offer, the Continuing Professional Development events we run and free entry to the largest conference in Europe. Signposting We launched a new signposting agreement between BIBA, government and the ABI. The agreement means that an older person who has been refused a motor or travel insurance product because of their age is signposted to an insurance provider that can help them. This is an industry solution that is a win for the customer, the insurance industry and at no cost to the government. It gives direct business to members. It also helps to enable growth and achieved an 81% increase in the level of enquiries in the first five months. Achieved new access for members to the trade credit UK Export Finance Initiative Achieved fairer commission levels for members via the trade credit UK Export Finance Initiative. Flood Consumer guidance, promoting the value of brokers We have led the project with DEFRA and other relevant stakeholders to produce the new Obtaining flood insurance in high risk areas guide for those consumers experiencing difficulties accessing cover. This is available on the BIBA and DEFRA websites. Achieved a review of the unfair FSCS funding model Jonathan Evans MP, Chair of the All Party Insurance and Financial Services Group, presented BIBA s petition to the House of Commons of 7,000 signatures from insurance brokers calling on the Treasury to urgently press for change with the FSA. This contributed to the launch of a new consultation. Launched a Find a Broker iphone and ipad application (app) Creating new opportunities to access BIBA brokers. Launched a strategic review to adapt and improve to customers needs and be the leading UK general insurance trade association in the 21st century This is focusing on our governance and committees, membership segmentation and membership proposition, communicating as one voice, resourcing for the executive team, commercial activities and a new principles based code of conduct for BIBA members. Helping with specific problems By launching a members sanctions checking facility to meet FSA s financial crime requirement. Lobbying for members interests BIBA delivered its Manifesto to 10 Downing Street, the United Nations, HM Treasury, The Cabinet Office, The Department for Transport s Motor Insurance Summit, The European Commission, BIS, the Ministry of Justice and DEFRA. Keeping brokers in the news by promoting broker and customer issues On BBC Breakfast, the One Show, Radio 4 Today Programme and Moneybox, Radio 5 Live Drive, Radio 1 Newsbeat, Sky News and all national newspapers. Working with government to promote members Promoting business continuity planning and launched the new Business Continuity for Dummies and SME insurance for Dummies books. Training Trained more than 30,000 brokers with our broker Assess tool and ran 300 courses under the Broker Academy banner

15 Our Mission Statement To represent and protect the best interests of our insurance broker and intermediary members and their customers We strive to achieve this by: Promoting the services and the value of members contribution to the protection of our futures with advice, guidance, access to risk management and insurance solutions. Influencing the relevant decision makers and policy writers that affect our sector. Maintaining and developing a stable business environment in which our members operate by keeping them informed of relevant issues, providing a forum for discussion and the exchange of non-competitive information. Supporting members both collectively and individually through a series of facilities and support services. By promoting, influencing, maintaining and supporting our members we aim to deliver first class insurance solutions for our customers, the best insurance is a BIBA broker. How brokers help with claims Settling claims is a principal outcome of what our members do. Brokers can add value in the claims process, helping clients to obtain a fair and prompt settlement from insurers. In research on behalf of BIBA, three quarters of brokers said that they had overturned a claim rejection in the last year. Heseltine Review BIBA supports recommendation 46 of the Heseltine Review No stone unturned in pursuit of growth which states: Government should involve the private sector in drafting regulations so it is a collaborative process. It should invite trade associations, through the lead associations for their sectors, to submit precise redrafting of existing regulations prior to wider consultation on any changes

16 Contacts BIBA regions OUR EXECUTIVES OUR STAFF OUR REGIONAL EXECUTIVE TEAM Eric Galbraith Barbara Bradshaw Lindsay Campbell Leighann Forsyth Graeme Trudgill Steve Foulsham Steve White Kirsty Wingrove Communications Becky Pledge Andy Thornley Corporate Affairs Nicola Martin Membership Sunel Birnie Regulation Vannessa Young Technical Doreen Campbell Mike Hallam Conference Katie Reay Accounts Gurmukh Shehri Joelle Etienne West of England and South Wales Barry Blakley Central and South East Diane Smyllie Scotland and Northern Ireland Clive Hurn East Midlands and Anglia Miguel Gilvargas Yorkshire and Northern Ian Raper Merseyside, North Wales, West Cheshire & Isle of Man and Greater Manchester Bob Nicholls West Midlands Sue Dimmock London Market Region Vannessa Young Northern Ireland Merseyside, North Wales, West Cheshire and Isle of Man South Wales West of England Greater Manchester West Midlands Scotland Central Yorkshire and Northern East Midlands Anglia London Market South East 30 31