The Financial Services Authority’s new regime for the regulation of insurance intermediaries came into force from 14 January 2005. BIBA has seen a significant increase in the number of compliance related enquiries from its members as a result of statutory regulation.

Intermediaries are bombarded with information from all quarters on issues ranging from the relevant to the bizarre. This section of the BIBA website is dedicated to regulatory and compliance matters and acts as a repository of information for members, allowing them to access the information they want, when they want it.

Members can access the following information by clicking on the links above:

1. Technical Updates – BIBA issues regular technical briefing papers, keeping members abreast of developments and there is a section dedicated to regulation and compliance.

2. Useful Website Links – The FSA’s website contains an enormous volume of information, but finding what you are looking for is not always easy. This section provides links to some of the more relevant pages for insurance intermediaries from the FSA and other bodies that have a bearing on the industry.

3. The BIBA Compliance Manual - an essential tool written in plain English which not only helps you understand what the rules mean but then how to implement effective compliance within your own firm.  The manual is priced at an extremely competitive £250 + VAT.

4. BIBA Compliance Initiative – Working together with compliance experts RWA Compliance Services Ltd and Branko Ltd, the BIBA Compliance Initiative incorporates a range of compliance facilities at competitive rates.  

5. Broker Assess – this online compliance and competency system has been developed in partnership by BIBA and the CII to assist members with their training and competency programme. It is a comprehensive tool, with content designed and written specifically for brokers by broking experts.

6. Regulatory Hot Topics – this section provides a complete listing of all the information that BIBA has published on a particular topic in a single, easy-to-access place. Please note that the list of topics shown here is by no means exhaustive, but rather they represent the most pressing compliance and regulatory issues for members at the moment.

7. Forms and templates – this section lists some of the more common documentation that BIBA members may need during the course of business.

8. Contacts – if you have any specific regulation or compliance issues, or wish to comment on this section of the website, please feel free to email whites@biba.org.uk or call Steve White (Regulation and Compliance Manager) on 020 7397 0222. You can also contact Vannessa Young (Compliance Co-ordinator) on 020 7397 0233 or email her at youngv@biba.org.uk.