BIBA’s Manifesto Calls to Enable Insurance Market
The calls have been made in BIBA's 2017 Manifesto 'Enabling the Insurance Market' which was launched in the Houses of
IPT is the first issue in the Manifesto where BIBA highlights that between
Launching the Manifesto, BIBA's Chief Executive
He set out BIBA's preference for Government to consider a sectoral solution, if a whole economy access to the single market isn't achievable. BIBA's Manifesto calls for Government to negotiate for a minimum five year transition period and highlighted the need for a solution for EU workers in the
In addition White committed to the launch of
It is BIBA's biggest Manifesto including a reversible section dedicated to the coming EU exit, 38 calls to action and 20 BIBA commitments on the issues that are impacting general insurance brokers and their customers. It carries 17 supportive quotes and includes four case studies demonstrating the value and impact of brokers.
BIBA's Chairman,
BIBA's 2017 Manifesto issues include:
* Designing a market place for tomorrow (A fair system of taxation; diversity; Insurtech; autonomous vehicles; and telematics)
* EU Exit (Trading with
* Enabling access to the right insurance (Vulnerable customers; an effective system of public financial guidance; and getting business interruption insurance right)
* Dealing with threats (Flood insurance and resilience for business; cyber insurance; fraud; and terrorist threats)
* Supervision and regulation (The accumulation and cost of regulation; reform of the
Notes to editors
1. 70per cent increase in regulation costs for small insurance brokers - new BIBA statistics from London Economics. See separate BIBA press release.
2. BIBA's new
3. Click here (https://view.publitas.com/biba/biba-manifesto-2017-enabling-the-insurance-market/) for BIBA's Manifesto
4. Click here (https://view.publitas.com/biba/biba-manifesto-2017-eu-exit/) for BIBA's EU Manifesto
About the
BIBA membership includes just under 2,000 regulated firms.
General insurance brokers contribute 1per cent of GDP to the
52per cent of all general insurance is sold by an insurance broker and they arrange 78per cent of all commercial insurance business.
Insurance brokers put the client's interests first, providing advice, access to suitable insurance protection and risk management.
BIBA helps more than 250,000 people a year to access insurance protection through its Find a Broker service, both online and via the telephone.
BIBA is the voice of the sector advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.
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