The British Insurance Brokers’ Association (BIBA) has launched its 2016 Manifesto, called #FairnessForAll.
Unveiled at a reception in the Houses of Parliament to an audience of MPs, Lords, senior Government officials and insurance brokers, the Manifesto includes 18 calls to action and 14 BIBA commitments on the issues that are impacting general insurance brokers and their customers.
The manifesto’s key calls to action include helping vulnerable customers access insurance; making sure that advice on general insurance is widely available to customers; helping SMEs insure against the risk of flooding; and ensuring smooth implementation of the Insurance Act and the Insurance Distribution Directive.
It also wants to see and improvement in the recognition of the value, awareness and take up of cyber insurance protection; proportionate and cost effective regulation including reform of the Financial Services Compensation Scheme; and better managing of under–insurance for SMEs following the FCA’s thematic review of insurance claims.
Steve White, BIBA’s chief executive, said: “The 2016 BIBA Manifesto, #FairnessForAll has been compiled following the broadest engagement with our members. So many thanks to our advisory boards, technical committees and the hundreds of members that attended and contributed at our regional roadshows last autumn. This Manifesto is the embodiment of what matters to our members and forms the basis of our public affairs activity for the year ahead.
“We are already engaging with the relevant decision and policy makers on a number of the Manifesto issues and we look forward to discussing these issues with our broader stakeholders.”
Graeme Trudgill, BIBA’s executive director, added that the organisation’s members could help to bridge the gap in understanding by identifying a customer’s particular needs and providing access to suitable products.
“In an insurance broker’s capacity as agent of the customer, their duty is to act in their customers’ best interests and that is why so many of our Manifesto issues relate to fairness for insurance customers,” he said.