Lord Hunt calls for brokers to set gold standard for advice

14th May 2014

David, Lord Hunt of Wirral, Chairman of the British Insurance Brokers' Association (BIBA) called on brokers to shine by ensuring that customers are at the heart of their business, engaging with BIBA, the Government's Growth Action Plan and delivering innovations.

Lord Hunt told brokers that their role is to provide customers peace of mind and that they should be "setting the gold standard for advice" in his inaugural address at BIBA's annual conference 'Customer…customer…customer'.

He said that due to “tough, complex and uncertain times" there is a "clear and urgent need for expert and trusted advice.”

He also acknowledged the positive and significant changes to BIBA made by Directors Steve White and Graeme Trudgill, and told brokers that as a result “BIBA is now recognised at Westminster as a ‘go to organisation’."

Lord Hunt also told delegates that he is “heartened” to see that the interests of customers are always paramount to BIBA’s Board decisions and that brokers should be “enormously motivated” about the opportunities ahead.

He finished by issuing a clarion call to brokers: to maximise this golden opportunity, put customers first and to strive for raised standards.

Ends

Notes to editors

1. For further information please contact:

BIBA press office:
Leighann Forsyth, Head of Communications
07917 738 721
forsythl@biba.org.uk

2. 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.