Membership Levels and RequirementsThere are two levels of NIBA membership designed to suit the structure of your business:
- Principal Membership is open to a company, trust partnership or sole traders working as a general, life, reinsurance broker or underwriting agency.
- Corporate Associate membership is available to a subsidiary company of a Principal Member.
Applications are considered very carefully to ensure that not only government requirements are met, but also NIBA's own strict conditions. If approved as a member, your firm must agree to the following:
- Abide by NIBA'S Constitution and the Rules and Regulations of NIBA
- Ensure the firm and its employees and consultants operate in accordance with NIBA's Code of Conduct
- Subscribe to Financial Ombudsman Service Limited (FOS) and as a result commit to implementing the Insurance Brokers Code of Practice.
A Principal Member applicant must have a director/shareholder/partner that is able to qualify as a NIBA College QPIB or QFSR. A Corporate associate member must also have either a NIBA College QPIB or a QFSR in a responsible position in their office. This designation must be maintained at all times.
The Application Process
The application process for NIBA membership takes approx eight to ten weeks.
Stage 1: Complete the online application
Stage 2. Business Reputation Check
- Applicant names are listed in the NIBA Gazette. If no objections are received the application is referred to the NIBA Divisional Committee in the applicant's State. Once the Divisional Committee approves the application it is referred to the NIBA Board for final approval.
|
