BIBA was formed in 1977 to represent independent insurance brokers, after the Department of Trade and Industry called for a move to a single trade body from the existing four separate ones. The task of bringing these four together was conducted by Francis Perkins who became the Chair of the newly formed British Insurance Brokers’ Association.
In 1988, following the introduction of the Financial Services Act, the organisation extended its membership to include Independent Financial Advisers, and became the British Insurance and Investment Brokers’ Association – BIIBA.
By 1994, the UK’s Independent Financial Advisers were coming under increasing pressure, which led to calls for the creation of an association dedicated to representing their interests. As a result, BIIBA was the driving force behind the establishment of its sister organisation, the IFA Association.
In September 1999, BIIBA removed the word ‘investment’ from its title, reverting to BIBA. In the intervening years another broker representative body the Institute of Insurance Brokers (IIB) had emerged and on 1 November 2011, BIBA and the IIB merged with a number of the IIB board directors joining BIBA’s board. Today, BIBA is the largest broker organisation in the UK, and has established itself as the sector’s most powerful and authoritative voice.