British Insurance Brokers Association

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Updated: Aug 20, 2021

With the passing of the Insurance Brokers

(Registration) Act 1977, both the Corporation of Insurance Brokers and the Association of Insurance Brokers were dissolved and a new professional association, known as the British Insurance Brokers Association, was established in their place to be the representative and governing body for all members of the insurance broking profession. Intended to complement the Statutory Insurance Brokers Registration Council set up at the same time, the Association is essentially a representative body controlled by its members but intended to set and supervise standards within the profession for the benefit of members and general public alike. As a national association it also seeks to protect the interests of its members vis-a-vis central government and to increase public awareness of the services that responsible brokers can provide. To this latter end it has established regional offices and an informal conciliation service which deals with customer complaints which are insufficiently serious to rate reference to the I.B.R.C.

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Reference: The Penguin Business Dictionary, 3rd edt.



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James Knight
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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.