Resilience has been put at the heart of the British Insurance Brokers’ Association’s vision for the next year as the trade body published its manifesto for 2021.
The trade body used the launch to highlight six key ways – including a renewed drive to lobby against current rates of insurance premium tax – in which insurance brokers can help the UK to adapt in a post-Brexit world. It said it also remained committed to supporting the UK economy as it “seeks to confidently adapt to our new, post-pandemic normal”.
BIBA’s 2021 Manifesto: Resilience was launched this week digitally via a webinar presentation and on social media.
A spokesperson said that “Access to Insurance” is a “vital” part of BIBA’s campaigning and the means of signposting consumers to essential insurance are once again on the agenda.
The spokesperson said that BIBA’s cross-sector Access to Insurance committee is now “at the forefront” of overseeing the effectiveness of various existing and planned signposting agreements which are highlighted as a means of increasing resilience.
BIBA CEO Steve White added: “The last 12 months have been among the most challenging most of us have ever faced. Insurance has hit the headlines, with travel being restricted and business forced to close. The right insurance is key to helping build resilience and is a highly apt theme for BIBA’s 2021 Manifesto.”
The BIBA Manifesto highlights how insurance brokers help business obtain the cover they need and at the right level. The Manifesto also highlights the increasing need for protection against cyberattack with suitable insurance to keep businesses operating and details the prevalence of underinsurance and the need for the right type and level of insurance.
Graeme Trudgill, BIBA’s executive director, said: “Resilience is so necessary to survival, and insurance can provide financial resilience. BIBA plans guidance for members and their customers as well as a continuing programme of engaging with Government and other stakeholders to bring about solutions that will improve resilience. As well as the challenges through our Manifesto we want to highlight the excellent work that brokers do to help their customers, and to enable them to weather the storms they face.”
White added: “Our manifesto, as always includes the matters that brokers tell us are important to them. While much of the agenda is about helping their customers, we will also be campaigning on regulation and taxation, issues that are directly impacting brokers’ own resilience. Brokers are vital to the UK economy and their expertise is vital to customers. BIBA will continue to support them and help them to help customers and demonstrated by the promises to act with have made within it.”
The BIBA 2021 Manifesto is available here.