IIB signs off in Parliament as its merger with BIBA moves ahead

07 Dec 2011

It was strange being at the Institute of Insurance Brokers' final Parliamentary Reception this lunchtime, not least because a few people reminded me that I was at their first such event which was way back in 1988. It was also clear that many people were there almost 'signing off' from their long association with the broker trade bodies, not least IIB president John Greenway, former chairman Graham Gomm and other other IIB luminaries such as Mike Slack.

But it was also a forward looking occasion, carefully stage-managed by Barbara Bradshaw and Eric Galbraith to demonstrate the that IIB's merger with the British Insurance Brokers Association has strengthened the broker voice in government and Parliamentary circles, underlined by the presence of Treasury minister Mark Hoban. Both spoke powerfully of the challenges facing the broker market and how important the relationship with policymakers and politicians has been and will continue to be in the future.

This was echoed by the chairman of the All Party Parliamentary Group on Insurance & Financial Services, Jonathan Evans, who highlighted the work done by the group with the broker trade bodies to shift opinion on the need for a review of the Financial Services Compensation Scheme as an example of what unified, consistent and coherent lobbying can achieve.

Of course, the broker trade bodies are not quite united as there is still some fragmentation in the London Market but in terms of the issues that matter to MPs and Parliament - largely the issues that affect their constituents - there is now a single voice and they will welcome that.

Topics: Treasury, Jonathan Evans, John Greenway, IIB, FSCS, BIBA, All Party Group

Permalink

BIBA and IIB rapprochement is very timely

13 May 2011

The dramatic announcement at the opening of this week's British Insurance Brokers' Association conference in Manchester that it will be merging with the Institute of Insurance Brokers brings to an end almost 25 years of division in the representation of insurance brokers.

Relationships between the two bodies have ebbed and flowed - to put it mildly - since the late Andrew Paddick launched the IIB off the back of his successful campaign to get the Insurance Brokers Registration Council recognised as a professional body under the old regulatory regime. Much water has flowed under the proverbial bridge since then but recent years have seen the two organisations making common cause on issues that affect insurance brokers, a trend that was always likely to get even more pronounced as the battles over the costs of the Financial Services Compensation Scheme and the new regulatory regime reached their peaks.

There have been other times when the need for unity has been pressing and the moment hasn't been seized but the pressures on the broking sector now are probably more intensive than at anytime since the initial split in 1987.

There will be some tough negotiations ahead if there is to be a new broker trade association in place by the beginning of 2012 but the weight of the external issues should help concentrate minds and put those inevitable internal battles into a sensible context. There will also be some tussles over individual roles and these, too, must be put to one side for the sake of the bigger prize, although it is interesting to see my old friend John Greenway being mentioned as a possible chief excutive of the new organisation. With his background as a former MP and long-time chairman of the All Party Parliamentary Group on Insurance & Financial Services he certainly has the right experience to ensure the new trade body hits the ground running on the lobbying front.

That said, both BIBA and the IIB have proved no slouches when it comes to lobbying over the last couple of years. The hope has to be that the merger creates something that is more powerful and effective than the two were separately.