NIBA is the peak body of the insurance broking profession in Australia and represents around 360 member firms and more than 2000 individual Qualified Practising Insurance Brokers (QPIBs) throughout Australia. In total NIBA represents an estimated 90% of all insurance brokers in Australia.
Since 1982 NIBA has been a driving force for change in the Australian insurance broking industry. It has supported financial services reforms, encouraged higher educational standards for insurance brokers through NIBA College and other education providers, and introduced a strong, independently administered and monitored Insurance Brokers Code of Practice for members.
The member firms all hold an Australian financial services (AFS) licence, issued by the Australian Securities and Investments Commission (ASIC) under the Corporations Act, which enables them to deal in or advise on Risk Insurance products.
NIBA members include large multinational insurance brokers, large Australian-owned insurance brokers, and more than 300 small to medium sized insurance broker businesses located in the cities, towns and regions across Australia.
NIBA College, meanwhile, is the education arm of NIBA and offers membership and educational services, including professional certification and continuing professional development. The College is a Registered Training Organisation and provides national qualifications via distance education and workshops, as well as a range of elearning courses, seminars and CPD programs.
At international level, NIBA is a member of the Council of Asia Pacific Insurance Brokers Associations (CAPIBA) and the World Federation of Insurance Intermediaries (WFII).
NIBA’s core strategies
All NIBA activities fall under our four key pillars of representation; professionalism; community awareness; and member services.
NIBA strives to represent the interests of insurance brokers, on behalf of their clients (policyholders) to:
…with integrity, and in a manner that is respected, credible and relevant. Further information on NIBA activities in this area can be found in the ‘News, Media & Publications’ section of the website.
NIBA sets and promotes quality standards for insurance broking in Australia.
NIBA enhance and promote the professionalism and standing of brokers, and community confidence in brokers.
Through NIBA College, we provide opportunities to achieve and maintain high levels of professional competence.
NIBA acts to promote the importance of insurance and the role of insurance brokers in that industry.
NIBA promote the role of insurance brokers as “trusted adviser” of the client on risk and risk transfer.
NIBA educate the community on the need for expert and professional advice on insurance related matters.
NIBA provide and maintain the free Need a Broker service, which puts consumers and business owners in touch with NIBA member brokers near them geographically, or those who specialise in providing advice on risk and insurance for their specific area of need.