The British Insurance Brokers' Association has launched a member consultation following their strategic review which concluded earlier in the year. Closing date for responses is 31 August, 2013.
The consultation focuses on proposed changes to BIBA’s governance structures, the make-up of the Board and a new model for segmenting its membership.
Steve White, BIBA CEO, said: “The proposed changes are fundamental to the way BIBA is run, and how we interact with members. Therefore it is vital that members respond to this consultation and I encourage them to tell us what they think of our plans.
“We think that the proposals put forward will enable us to listen to and communicate with our members more effectively by segmenting the membership by both size and location, as well as having a clear link between the different segments and our Board.
“During my speech at the BIBA conference, I asked members to join in – responding to the consultation is one of the ways that they can do this and help to shape the future of the Association.”
The BIBA membership is proposed to be segmented in to:
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Small firms North with a commission and fee income of less than £1m;
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Small firms South with a commission and fee income of less than £1m;
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Larger firms with a commission and fee income of greater than £1m;
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Networks, aggregators, MGAs and other distributors; and
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UK Nationals, London market and international members.
Proposals to changes in BIBA’s governance structures would see:
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A Board size of 10-12 members in total;
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The BIBA Executive to have three reserved places on the Board, the CEO plus two executive directors and a minimum of two serving;
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One independent non-executive director (NED) to be elected by the Board and re-elected every three years, who can serve for a maximum of two terms;
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Each of the five segments to form an advisory board. Each advisory board would elect a chair and each of the five chairs would have a seat on the BIBA Board.
Were these changes to be implemented, the main Board would comprise in future:
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A Chairman;
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A deputy Chairman;
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An independent non-executive Director;
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BIBA’s CEO
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Up to two others from the BIBA Executive;
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A ‘Chair of Chairs’ from a regional chairman’s committee; and
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The balance of the Board made up of member representatives whose selection is based upon the proposed five segments mentioned in the new membership model.
Closing date for responses is 31 August, 2013.
Full information
Consultation paper
© BIBA - British Insurance Brokers' Association
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