Tim Ryan to lead BIBA’s new Networks and Managing General Agents’ Advisory Board
21st March 2014
Tim Ryan, Managing Director of Ryan Insurance Group, has been appointed Chairman of the British Insurance Brokers’ Association (BIBA) new Networks and Managing General Agents’ Advisory Board, with immediate effect. Tim, as Chairman of the Networks and Managing General Agents’ Advisory Board, will also join the main BIBA Board to ensure that the views of networks and MGAs are represented within the trade association which counts just under 2,000 regulated firms among its membership.
Tim said: “I am extremely excited about chairing the Networks and MGAs’ Advisory Board and I look forward to helping BIBA deliver on its purpose. The segmentation of the representation of the membership in to the new advisory board structures will give focus so that I can make sure that the specific views of alliances, networks and MGAs are properly articulated to and by the main BIBA Board and Executive.
“I am passionate about helping consumers understand the role and benefits of using a broker as well as improving the reputation of our sector and this is a forum where I can help to achieve this.”
The Networks and Managing General Agents’ 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 third such advisory board to be formally launched following recommendations in BIBA’s Strategic Review to strengthen governance and segmentation.
The advisory board will meet on a quarterly basis to provide advice and ensure that the issues affecting networks and MGA 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.
Steve White, BIBA's Chief Executive, said: "The new Networks and Managing General Agents’ Advisory Board provides formal recognition for the first time within BIBA of the changing dynamics of distribution in the general insurance market and within our membership. We are very pleased to be able to give this segment of our membership a voice and representation of their specific interests. In Tim’s hands they will have a strong voice speaking out for them on the issues affecting their businesses.”
“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. This new advisory board is another important step in delivering the recommendations of our Strategic Review and we will continue to drive forward the development of our new structure.”
Five advisory boards will be established 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
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.