Kevin Hancock and Andrew Gibbons to lead BIBA’s new Smaller Brokers’ Advisory
24th February 2014
Kevin Hancock, managing director of Yutree Insurance Ltd, has been appointed Chairman of the British Insurance Brokers’ Association’s (BIBA) new Smaller Brokers' Advisory Board, with immediate effect. Kevin, as Chairman of the Smaller Brokers’ Advisory Board, will retain a seat on the main BIBA Board to ensure that the views of smaller brokers are represented within the trade association which counts just under 2,000 regulated firms among its membership.
Small businesses (firms with 10 employees or less) account for 85% of BIBA’s membership and the new advisory board has been established to reflect this demographic and represent the specific interests of the smaller broker. The Smaller Brokers’ Advisory Board’s role will be to connect BIBA at the highest levels both with market trends and developments, and also with the most senior stakeholders externally. This is the second such advisory board to be formally launched following recommendations in BIBA’s Strategic Review to strengthen governance and segmentation.
Andrew Gibbons, Managing Director at Mason Owen Financial Services Ltd, has also been named Deputy Chairman of the advisory board which will meet on a quarterly basis to provide advice and ensure that the issues affecting smaller firms are properly represented to and by the main BIBA Board and BIBA Executive. This is expected to be a two-way dialogue with the advisory board acting as a sounding board to the main BIBA Board and Executive and undertaking tasks on their behalf when delegated.
Kevin Hancock, who was chairman of BIBA’s General Insurance Brokers’ Committee (GIBC) a predecessor of the new advisory board, said: "The GIBC played a key role in BIBA’s governance and I was pleased to have a seat within that forum. Following BIBA’s Strategic Review, I am keen to continue to be involved with our trade association at a time when the association is playing an increasingly important role in advising members and working on their behalf with the regulators, consumer bodies and other stakeholders on key insurance issues.
“I am delighted to take on the role of Chair of the new Smaller Brokers’ Advisory Board and hope that this Board can represent the smaller broker and ensure that we have a strong voice within the highest levels of BIBA."
Andrew Gibbons said: “Having spent a number of years representing the Merseyside Region as a member of the GIBC, it was only natural that having helped shape the new BIBA structure through the consultation process that I volunteered to participate in that structure. It is however a privilege to be nominated to act as deputy chair of the Smaller Brokers’ Advisory Board, which is a challenge that I look forward to embracing.
“This is an important time for the industry, BIBA and for brokers in general. I hope that in time, smaller brokers feel they can engage with the advisory board to achieve real results for their firms."
Andrew will also join Kevin on the main BIBA Board. The Smaller Brokers’ Advisory Board is the only advisory board that can return two people to the main BIBA Board.
Steve White, BIBA's Chief Executive, said: "We have had a fantastic response from members wanting to be involved in BIBA’s new governance structure many of whom have not held formal roles within the association before. The launch of the Smaller Brokers’ Advisory Board is an important step in delivering the recommendations of our Strategic Review and we will continue to drive forward the development of our new structure.
“The appointment of both Kevin and Andrew to the main BIBA Board reflects the importance of the smaller broker to BIBA and ensures balance amosng our different membership categories and appropriate representation for smaller businesses. Smaller brokers can rest assured that they will have a strong voice speaking up for them on the issues affecting their business which will be heard where it counts."
A further three advisory boards will be established in due course to reflect different but vitally important segments of the BIBA membership. Other recommendations from the Strategic Review, which have recently been implemented, include the appointment of Lord Hunt of Wirral as BIBA’s first independent Non-Executive Director to the Board. Lord Hunt also became the new BIBA Chairman in January 2014.
The Strategic Review was announced in May 2012 with the appointment of consultants Deloitte, who made a number of recommendations which have been taken forward by BIBA's Board and Executive team in six main workstreams. Members voted overwhelmingly in favour of the changes proposed by the Segmentation and Governance workstreams at BIBA’s Extraordinary General Meeting (EGM) in October 2013.
Notes to editors
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2. For further information please contact:
BIBA press office:
Leighann Forsyth, Head of Communications
020 7397 0223
3. About 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 just under 2,000 regulated firms having merged with the Institute of Insurance Brokers (IIB) in November 2011.
General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.
53% of all general insurance is sold by an insurance broker and they arrange 81% of all commercial insurance business.
Insurance brokers put the client’s interests first, providing advice, access to suitable insurance protection and risk management.
BIBA helps more than 400,000 people a year to access insurance protection through it’s Find a Broker service, both online and via the telephone.
BIBA is the voice of the industry advising members, the regulators, consumer bodies and other stakeholders on key insurance issues. BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards.