BIBA to work with government to ensure the best interests of insurance brokers and their customers are fully represented during the exit negotiations

24th June 2016

This is an unprecedented situation for the UK and BIBA is conscious that this will create a considerable amount of work and concern amongst members and their customers.

The process of negotiating exit terms, setting out future arrangements with the EU and creating trading deals is likely to take some considerable time and will impact our industry during that period.  BIBA will work with the Government and other authorities to ensure that the interests of insurance brokers and their customers are fully represented in these vital negotiations. BIBA will make this a priority work stream during this time.

-ENDS-

Notes to editors

1. For further information please contact:

   BIBA press office:
   Pam Quinn, Communications Manager
   020 7397 0223
   quinnp@biba.org.uk

2. About the British Insurance Brokers’ Association

The British Insurance Brokers’ Association (BIBA) is the UK’s leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms.

General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.

54% of all general insurance is sold by an insurance broker and they arrange 78% 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.