NIBA / Professionalism
Code Review Moves From Listening to Drafting
After considering over 200 contributions, NIBA now moves the Insurance Brokers Code of Practice review forward with a draft Code, a side-by-side comparison, and new member consultation, putting the proposed changes back in front of members.
Earlier this year, NIBA closed the first phase of its review of the Insurance Brokers Code of Practice, drawing more than 200 contributions from across the broking profession, the clients and businesses brokers serve, and key public stakeholders including regulators, government, dispute resolution bodies and consumer advocates. As covered in the last edition, the consultation surfaced clear — and at times competing — views on where the Code should set the standard. The next milestone is the one members have been waiting for: a draft of the new Code. NIBA expects to release the draft 2027 Code shortly for a second round of consultation. Where the first phase asked the profession what a contemporary Code should do, this phase asks a sharper question: Does this draft get it right? Feedback gathered in this round will be carefully reviewed and directly inform the final version of the Code. Member input will help the Board identify any issues, refine proposals, and ensure the
Code is practical and relevant for real- world broking. By participating, members can play a key role in shaping the final standards that will guide the profession. A consultation paper will sit alongside the draft, framing the key questions the Board most wants members to weigh in on. "Drafting a Code is where the hard trade-offs get made," said Code Review Committee Chair Di Phelan. "We have tried to reflect what we heard honestly — including where views diverged — and to put a draft in front of members that lifts standards in a way that is workable in a real broking business." As in the first round, NIBA will support the consultation with a series of webinars and a member survey, giving brokers more than one way to have their say. The webinars will walk through the draft and the thinking behind the significant changes; the survey will capture structured feedback that can be measured and compared across the membership. "A Code only earns trust if the people bound by it have genuinely shaped it," said NIBA CEO Richard Klipin. "We are not interested in a Code that looks impressive on paper but does not hold up at the point
a client needs their broker most. Putting a full draft in front of members is how we make sure the final Code is both ambitious and grounded in all practices across our membership." NIBA President Nick Cook said the second round was an invitation. "The strength of a profession's Code is measured by how seriously its members engage with it. We have had a strong response so far, and we are asking the profession to stay at the table for this next stage. The clients and communities who rely on broking advice are the ones who ultimately benefit from us getting this right." Members will be notified when the draft Code and the consultation paper are released, along with dates for the webinars and a link to the survey. NIBA urges every broker — from sole practitioners to the largest networks — to read the draft, compare it to the current Code, participate in the webinars, and complete the survey to share their feedback. Take this opportunity to help shape the final Code — your contributions are essential to ensuring it meets the profession’s needs.
8 / INSURANCE ADVISER JUNE/JULY 2026
Made with FlippingBook Digital Publishing Software