How to become a member
Applications are considered very carefully to ensure that not only government requirements are met, but also NIBA's own strict conditions. Please note that your application will only be considered once all your proof documents have been submitted.
The levels of participation are:
Principal Member
A company, trust partnership or sole trader working as a general, life, reinsurance broker or underwriting agency. A Principal Member applicant must have a director/shareholder/partner who is able to qualify as a QPIB or QFSR. This must be maintained at all times.Corporate Associate
The corporate associate category is available to a subsidiary company of a Principal Member. They must have either a QPIB or a QFSR in their office.Fellow (FNIBA)
A QPIB who has been granted this status by the NIBA board and who has also completed NIBA College's Advanced Diploma of Financial Services.Qualified Practising Insurance Broker (QPIB)
To qualify for membership the applicant must:
- be a director, partner or employee of a Principal Member
- have obtained the Diploma of Financial Services (Insurance Broking)
- have a minimum of 4 years experience in broking
- have completed 24 hours of continued professional developement (CPD)12 months prior to application.
Qualified Financial Services Representative (QFSR)
This category of membership is best suited for an individual that does not have broking qualifications or is an Aurthorised Representative of an Australian Financial Services Licence (AFSL) holder. To qualify for this membership the applicant must:
- have a Diploma of Financial Services in general or life insurance or any other speciality.
- undertake 24 hours of continued professional developement (CPD)12 months prior to application.
NIBA Associate
The Associate level of membership is best suited for individuals that have not completed the full Diploma of Financial Services and also do not meet the formal experience required for QPIB. To qualify for this category of membership the applicant must have successfully completed the following:
- a qualification at the ASIC Tier 1 adviser level
- 24 CPD points in a twelve month period prior to application
Continued Professional Developement (CPD)
As an approved member you will be requested annually to participate in a CPD program. In order to maintain your NIBA membership the indiviual member must achieve a minimum of 24 hours in a twelve month period starting 1st July to 30th June each year. Approved members will no longer be required to submit a CPD declaration. We will forward an undertaking to the nominated Principal and request that they verify that members in their office have successfully completed the required 24 hours. NIBA College can provide assistance with creating training plans to meet CPD requirements.
Auditing CPD
If you are a member who has been selected to be audited you will be asked to provide proof of attendance and or documents to support the hours you have declared for that period.