NIBA / Professionalism
Introduction and Background
“The Code is how our profession collectively demonstrates its ongoing commitment to self- regulation. That’s why our next chapter should be shaped by you, our members and Code Subscribers, who live it every day. On behalf of NIBA, I invite all members to have their say in the consultation process. Your insight will help ensure the Code continues to reflect the highest professional standards and stays fit-for-purpose in an evolving landscape.”
“A future-ready Code is one of the clearest signals of consumer trust and confidence in our profession. It demonstrates to key stakeholders across government, regulators and the wider community that brokers are strongly committed towards professionalism, accountability and putting clients first. As we go through this review, I encourage every member to contribute and help shape what comes next.”
— Richard Klipin, Chief Executive Officer, NIBA
— Nicholas Cook, President, NIBA
What is the Insurance Brokers Code of Practice? The Insurance Brokers Code of Practice (the Code) is the broking profession’s commitment to the highest standards of professional conduct and consumer protection. It sets out what Australian businesses, families, and communities can expect when they work with an insurance broker — and what brokers commit to delivering. The Code applies to all NIBA member firms and their staff, covering everything from how brokers handle conflicts of interest, to how they support clients experiencing vulnerability, to how they communicate about their services and remuneration. It is independently monitored and enforced by the Insurance Brokers Code Compliance Committee (IBCCC). Why is the Code being revised? In December 2025, Independent Reviewer Phil Khoury and the team at cameron. ralph. khoury (crk) delivered the final report of the Independent Review of the Code. The review examined how the Code is working, whether it meets community expectations, and where it could be strengthened. The report contains 14 recommendations. On 21 January 2026, NIBA released its formal Response to the Independent Review. That Response sets out the NIBA Board’s considered position on each of the 14 recommendations— specifically, which recommendations we support, where we take an alternative approach, and our reasoning in each case. This consultation paper is the next step. NIBA has made clear commitments about how we intend to respond to each recommendation. This consultation is not about whether to proceed — those decisions have been made. This consultation is about how to implement the changes effectively. We want to get the details right, and that requires input from those of you who work with the Code every day.
NIBA .COM.AU / 9
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