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  • About BIBA

    The British Insurance Brokers' Association (BIBA) is the UK 's leading general insurance organisation representing the interests of insurance brokers, intermediaries and their customers.  BIBA membership includes 1,700 regulated firms. BIBA brokers handle around half the value of all UK home, contents, motor, travel, commercial and industrial insurance policies. Insurance brokers make a direct and indirect contribution of 1% to UK GDP.  

    BIBA is the voice of the industry advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.  BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards. 

BIBA responds to FCA report on distribution chain


BIBA’s response to the recent report from the FCA on the insurance distribution chain:

There does not seem to be a problem across the whole industry. Looking at the examples in the FCA paper, the issues seem to be arising from the secondary sellers, the report provides examples including car show rooms, mobile phone sellers and tour operators.

We are pleased that the FCA highlights that it is important to note that there are also many other General Insurance distribution chains and products delivering good value insurance products and appropriate outcomes, with no evidence of harm.

It is our strong view that as agent of the customer, insurance brokers have always acted in the best interests of their customers. Now with the Insurance Distribution Directive it should be the case that any distributor of insurance products must also act with the customers’ best interests.

We note that the FCA has raised concerns about evidence indicating that customers may be sold sub-standard or ‘hollowed out’ products. Our strong recommendation is that when a secondary seller is offering an insurance product that customers benefits from a second opinion by seeking the advice of an insurance broker who can advise on a range of products and prices to suit their needs. 

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