The British Insurance Brokers’ Association (BIBA) has committed to encouraging new entrants into insurance broking by creating a new guide to starting-up in broking.
BIBA also plans to publish new or updated member guidance on subjects including Fair Value Assessments, professional indemnity insurance and trading in a soft market as well as supporting professional standards and developing a programme on artificial intelligence.
The commitments feature in its 2026 Manifesto titled Economic Resilience, which covers how it will to help brokers deliver resilience for themselves, for people, for businesses and for the economy.
The Manifesto sets out 10 key commitments the association has made and 10 key demands of stakeholders.
Other key commitments include:
- Promoting the value of insurance brokers by running another Ben the Broker campaign
- Working with Markel to expand insurance broker understanding of AI by establishing an AI training school for BIBA members
- Building a directory of brokers able to advise on, and place, cyber risk and signpost businesses to it
- Progressing BIBA’s schools’ initiative and working with the CII on a talent and skills programme to grow a pipeline of new entrants and returnees to the sector
- Continuing its work with Gracechurch on insurer service
- Dedicating time and resource to achieve our social commitments
- Educating SMEs on insurance and the benefits of using an insurance broker by publishing and promoting new guidance
- Supporting members with their own professional indemnity (PI) by delivering a new guide to brokers’ PI risks
- Supporting leaseholders through its programme of work with MHCLG
Its key asks include:
- For government to introduce a new Financial Services Bill in early 2026
- For the FCA to continue the momentum on simplifying the insurance rules in early 2026 to further reduce the frictional cost of regulation
- For the regulator to further simplification of the FCA rulebook and reporting requirements and to minimise ad-hoc data requests from the
- For government and the insurance industry to promote cyber insurance as a key pillar of building cyber resilience
- For government to resist increasing Insurance Premium Tax (IPT) over the course of this Parliament, while creating an IPT carve out for cyber insurance to encourage uptake
- For the government and the insurance industry to work together to reduce flood risk and secure long term, sustainable flood insurance capacity
- For the industry to roll-out total retail signposting
- For the sector to work together to introduce the new fair value product information exchange template
- For government to review the Financial Ombudsman Service (FOS) to ensure its role is that of a simple, impartial dispute resolution service
- And for government to improve the claims environment in Northern Ireland so the supply of affordable personal lines capacity available to brokers can be maintained and grown, helping secure good customer outcomes.
Graeme Trudgill, CEO of BIBA, explained: “We want to be crystal clear on what we want to achieve for our members, and highlighting the most important issues puts them sharply into focus.
“A key part of our asks is to ensure that the reforms announced by His Majesty’s Treasury and the Financial Conduct Authority are implemented as a matter of urgency, driving efficiencies so that our members can actively contribute to our nation’s resilience.
“A Financial Services Bill is needed early in 2026 to realise the Leeds Reforms, and we will work constructively with the FCA to continue creating efficiencies for insurance brokers.”
Caroline Barr, chairwoman of BIBA, added: “This is a Manifesto for the times we are facing.
“Resilience to financial shock is essential for people, businesses and the economy. Insurance brokers are key to building resilience, providing insurance cover that gives families peace of mind and businesses the confidence to grow and thrive.
“We are committed to ensuring that insurance is available to all those who need it and to helping our members deliver on that need.”