CEO / Welcome
ELEVATING PROFESSIONALISM
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s you all would be aware, earlier this month, ABC’s Four Corners program released an investigation into the strata industry in an episode called ‘The Strata Trap’. The episode discussed a range of strata-related issues, including a focus on insurance. NIBA acknowledges, with concern, issues about misconduct within the strata industry raised in the Four Corners episode. NIBA supports professional standards that enhance transparency and disclosure within the strata industry, including the reforms currently before the New South Wales Parliament. Brokers are committed to professionalism, transparency, and ethical behaviour; values that are at the heart of the Insurance Brokers Code of Practice. As part of NIBA’s commitment to effective self-regulation and promoting professionalism and good client outcomes across the insurance broking profession, we have developed additional guidance materials for Subscribers to the Insurance Brokers Code of Practice. This guidance clarifies the obligations of Subscribers and their representatives when arranging or providing advice on strata insurance products. We are committed to working constructively with government, regulators, and other key stakeholders to ensure the highest standards of practice and professionalism are maintained, reinforcing public confidence in insurance brokers serving the strata sector. Looking ahead, we will be shortly commencing our Code review, and work for it is already underway. Our Code, which has been on an evolutionary journey, is a really important signal for consumers, for stakeholders, and for our members. In this issue, you can get to know more about our five state winners who are in the running to be crowned the national CGU-partnered Broker of the Year, as we recognise those broking leaders who are upholding the highest standards of professionalism. My warmest congratulations to all the five state winners and I wish each of them the very best of luck as we wait to find out who will win at the 2024 NIBA Gala Dinner & Awards night at the Adelaide Convention Centre from 20-22 October. And finally, speaking of awards and professional recognition, that brings me to the much-anticipated 2024 NIBA Convention, which is less than a month away! Over
6 / INSURANCE ADVISER SEPTEMBER 2024
the course of two-and-a-half days, the entire broking profession and the wider insurance industry will come together to learn, share, connect, celebrate and unpack the key future trends facing our profession and the wider insurance sector of Australia. At the NIBA Gala Dinner, we will shine a spotlight on the best of our profession from the past year, honouring the 2024 Broker of the Year and Young Broker of the Year winners. We will also showcase industry excellence by revealing the winners of the 2024 Insurer Awards – Large General Insurer, Specialty Insurer, and Underwriting Agency of the Year. NIBA thanks the record participation of almost 1,000 brokers in the Broker Market Survey, underscoring the importance of broker insights in establishing a truly independent and syndicated overview of the industry. We look forward to welcoming you to Adelaide next month for the Convention.
RICHARD KLIPIN Chief Executive Officer, NIBA