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

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. 

07 Dec 2011