25th January 2022

In its 2022 Manifesto: Managing Risk, the British Insurance Brokers’ Association (BIBA) explains why managing risk is essential in six key areas.

The Manifesto was launched in the city of Westminster to an audience of Ministers, MPs, senior Government officials, insurance professionals and the media on 25 January 2022.

Welcoming BIBA’s work, John Glen MP, the Economic Secretary to the Treasury said:

“Insurance brokers make a significant economic contribution arranging £74bn of insurance per year and help to drive the UK’s reputation as a global leader in insurance.”

“Brokers can help improve outcomes for consumers and businesses across the United Kingdom by helping customers manage their risks and create new opportunities.

BIBA’s action on financial inclusion is helping vulnerable consumers access the insurance they need, and I urge them to continue this important work.”

The Manifesto includes highlights of new research by Aon, identifying the top 10 global risks, and the six chapters of the latest BIBA Manifesto cover the ways brokers help businesses, people and Government manage a wide range of risks.

Steve White, BIBA CEO said: “Insurance brokers offer much to their clients. As well as arranging suitable insurance to transfer financial risks, they can offer risk management advice to mitigate those risks.

“The risks people business and Governments face are changing, and we will be campaigning, on issues and helping to provide solutions relating to ways to share risk, innovation and change, helping customers, and sustainability.”

In a departure from previous years the BIBA 2022 Manifesto: Managing Risk, does not have a section on regulation. Instead, BIBA aims to highlight how the impact of regulation weaves through all aspects of a broker’s work and how far-reaching the risks of disproportionate regulation are.

Graeme Trudgill, BIBA’s Executive Director added: “Risk and its management and mitigation is at the core of our sector. Our work this year will seek good outcomes across matters ranging from the hard market, cladded buildings, flooding, and regulation through to the evolution of motor insurance and Insurance Premium Tax. Across all of these, brokers have the means to help customers manage risk. We also aim to help brokers keep on top of changing risk with ongoing support, good practice guidance and new publications on trade credit, cyber, claims, sustainability and underinsurance.” 

BIBA’s Chair, Jonathan Evans concluded: “This Manifesto is ambitious and clearly highlights the wide range of risks faced in everyday life.  Across almost all sections we will be seeking a fairer and more appropriate approach to the regulation of insurance brokers. Now the hard work begins to deliver on the 25 commitments and 52 calls for action to help members and their customers.”



Notes to editors


  1. Manifesto Sections
  • Sharing the risk: To highlight the risks that brokers can help mitigate and identify fundamental risks that may need Government intervention. We will aim to improve access to insurance in the hard market; seek insurance solutions for cladded buildings; work with Government on COVID insurance and other necessary interventions; enable flood resilience and help Flood Re evolve; manage terrorism insurance; seek an international competitiveness objective on the regulator; remove the negative impacts of trade barriers and promote the update of cyber insurance.


  • Managing compensation: To reform the way the FSCS is funded to make it fairer while continuing to protect consumers. 


  • Innovation regulation & change: Insurance brokers innovate and evolve to changing need and regulation should too. We call on the FCA to not stifle innovation; for the FCA to allow brokers to get on with the day job and speed up permissions; we highlight how brokers can provide insurance for e-scooters; and discuss the evolution of motor insurance; aim to deliver a Lender Interest Agreements insurer letter; ask for great consideration before introducing a new Protect Duty on Terrorism; and seek collaboration  to reform and make more clear business interruption insurance. 


  • Sustainability: We are committed to helping our members meet ESG requirements and achieve greater inclusivity; we will promote careers in insurance; and help support a focus on employee wellbeing.


  • Helping customers: BIBA is committed to continually improving access to insurance. The FCA consultation on a new Consumer Duty promotes good customer out comes and we believe in total signposting to help customers. We ask the FOS to resolve long-standing complaints and reduce handling time; we will launch a Flood Insurance Directory and promote our Travel Medical Directory which helps firms fulfil regulatory requirements and help customers; we ask the FCA to work with us to help those in social housing access contents insurance; we call MaPS to promote the benefits of insurance; we will create guides on cyber, claims and underinsurance


  • Insurance Premium Tax. We believe that reducing IPT will result in a higher take up of insurance protection; we ask for targeted relief from IPT on telematics policies; property insurance for cladded buildings and cyber insurance; we ask that the rate of IPT on travel insurance is brought into line with other insurance.
  1. For further information please contact:

BIBA press office:
Pam Quinn, Head of Communications
020 7397 0223
[email protected]

Leighann Forsyth, Deputy Head of Communications
020 7397 0224
[email protected]

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  1. 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 around 1800 regulated firms, employing more than 100,000 people. General insurance brokers contribute 1% of GDP to the UK economy; they arrange 72% of all general insurance with a premium totalling £74bn and 92% of all commercial insurance business. Insurance brokers put their customers’ interests first, providing advice, access to suitable insurance protection and risk management.

BIBA receives hundreds of thousands of enquiries per year to its Find Insurance Services, online and via the telephone, which are directed to insurance broking firms.

BIBA is the voice of the sector advising members, Government, regulators, consumer bodies and other stakeholders on key insurance issues.


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