Lobbying
NIBA maintains close contact with all governments around Australia. As a regulated profession, there's always a need for interaction with politicians and public servants working in areas that impact on brokers' interests.
In NIBA's case, careful attention is paid to maintaining relationships with the Federal Government as well as state and territory governments.
Close contact is maintained by NIBA at the political level to ensure brokers' interests are clearly understood by ministers and ordinary MPs. Apart from ministers and senior public servants dealing with financial services-related portfolios, NIBA also communicates at all levels of the Australian Securities and Investments Commission, the Australian Competition and Consumer Commission and the Australian Prudential Regulation Authority. Each of these Federal Government agencies is responsible for aspects of legislation that relate directly to NIBA brokers' activities or business priorities.
NIBA also makes a point of representing the interests of commercial insurance-buyers on behalf of its members. One example of this is the campaign to have taxes on insurance premiums reduced or eliminated.
While this wouldn't affect brokers very much, it would make a tremendous difference to the amount clients have to pay.