The British Insurance Brokers’ Association (BIBA) is the trade organisation for UK general insurance brokers, looking after the interests of its members and in turn their clients. Today BIBA has just under 2,000 regulated members, since the merger with the Institute of Insurance Brokers (IIB) in November 2011.
The general insurance broking sector is a contributor to the UK economy, accounting for 1% of the gross domestic production (GDP) and collectively employs over 100,000 staff. BIBA represents the interest of brokers when it comes to regulators, lobbying Government, statutory changes, technical advice and generally helps to raise standard within the insurance community. Finally BIBA provides an important ‘Find a Broker’ service to help over 400,000 people per year find insurance cover from an expert broker member, when possibly without help consumers might not find a solution. An insurance broker gives real value to the insurance chain, advising on risk, improvements to reduce the likelihood of claims and in turn reducing premiums for customers.
Unitas was formed in 1997 as an alternative to large national and international brokering groups. Joining forces means that members gain the benefits of a much larger organisation, however each member remains separate without restrictions.
Working together Unitas gross premium exceed £900 Million and its members employ over 1,100 staff, so a major force in the sector. The union means that members can access insurer schemes and facilities including the Lloyds of London market. The strength of a large alliance, with the benefits of total independence to offer competitive premiums and excellent customer care.