• Membership
• NIBA Toolbox
• NIBA Community
• NIBA College
• CAPIBA
• IRP - NIBA's Publication

User Login

NIBA College Rules

Rules for the College

These rules relating to NIBA College of Insurance and Risk Professionals (also referred to as “the College”) are made by the Board pursuant to clause 17 of the Constitution.

Where defined terms are used in these rules their meaning can be found in the section titled “definitions” following the rules.

Purpose

As the peak industry body, NIBA promotes the highest standards of insurance and risk practice in the community. NIBA has set up the College to fulfil complementary roles as a professional association for individual risk and insurance practitioners and as an education and training organisation.

The NIBA Board has established the NIBA College of Insurance and Risk Professionals to create a membership framework for individuals working in the broking and related risk and insurance sectors of the Financial Services industry.The framework is created by each member agreeing to be bound by the rules.

The rules lay down the issues relating to membership of the College, rights and obligations of members, types of membership, amount of membership fees, application for, and acceptance of membership and termination of membership.

The Board may publish amendments to the rules from time to time that will become binding on members upon publication. Rules are available on the College website. NIBA will communicate changes in rules to all College members in writing within 28 days.

As a professional association of insurance and risk professionals, NIBA College is concerned with establishing standards of behaviour, communicating the principles of best practice and providing practitioners with a recognised accreditation of their achievement in the field of insurance and risk.

While NIBA College is primarily a body for practising brokers, it encourages the involvement and membership of others in related fields and in particular those younger people whose end objective is a career in the risk insurance sector.

Individual membership is for people who share the goal of supporting NIBA’s principles and mission and agree to NIBA College Membership Code.

The Board may from time to time determine the characteristics required to be admitted to a particular class of College membership.

NIBA College Governance

The responsibility for the provision of the College is with the National Insurance Brokers Association.This body is responsible for maintaining effective governance of the College. It discharges this responsibility by defining the policies governing membership of the College and for the responsibilities that College membership entails.

A subcommittee, the National Education Committee (NEC) has been set up by the Board to provide policy direction to the College and advice to the Board regarding the strategic directions of the College.The Board can appoint an external body to manage the College.

NIBA can dissolve the College upon no less than X months notice to all members if: (reasons listed). No compensation or damages are due to members in this case.

College Membership Classes

NIBA College membership is open to natural persons. The Board has prescribed the College membership classes based on:

• The minimum qualification for entry;
• The minimum level of relevant industry experience for entry;
• The level of CPD completed prior to entry; and
• The amount of CPD to maintain membership.

The College membership classes divide into two groups:

• A general class of non professional members i.e. those with no qualification or a qualification in a non-broking or risk related area; and
• Several practitioner classes for those with varying levels of broking or risk qualifications and work experience.

Certain classes are entitled to use post nominals.

Characteristics of the College Membership Classes

1. An Affiliate of the College is a non-practitioner class of membership and applicants must satisfy the Board that they:
   1. Are a employed in a licensedor authorised financial services business;
   2. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   3. Are proposed for membership by X.
   There are no post nominals applying to this class of membership.
   
2. An Associate of NIBA College of Insurance and Risk Professionals is a practitioner class of membership and applicants must satisfy the Board that they:
   1. Are enrolled in an accredited program under the level of Diploma in Financial Services at NIBA College; or hold a full or partial financial services qualification under the level of Diploma with NIBA College or another registered training organisation or equivalent; and
   2. Are a employed in a licensedor authorised financial services business;
   3. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   4. Are proposed for membership by X.
   An Associate of the College may use the post nominal NIBA College Assoc. after his or her name.
   
3. A Qualified Practising Insurance Broker of the College is a practitioner class and applicants must satisfy the Board that he or she has:
   1. A Diploma of Financial services (Insurance Broking) with NIBA College or another registered training organisation or equivalent;
   2. Has a minimum of (4) four years experience as an insurance broker;
   3. Has participated in continuing professional development as required by the Board in the 12 month period prior to the date of his or her application
   4. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   5. His or her nomination has been proposed by a QPIB, QFSR or above.
   A Qualified Practising Insurance Broker may use the designation QPIB or NIBA Coll. QPIB after his or her name.
   
4. A Qualified Financial Services Representative of the College is a practitioner class and applicants must satisfy the Board that he or she has:
   1. A Diploma of Financial services with NIBA College or another registered training organisation or equivalent;
   2. Has a minim mum of (3) 4 years experience providing financial services;
   3. Has participated in continuing professional development as required by the Board in the 12 month period prior to the date of his or her application
   4. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   5. His or her nomination has been proposed by a QPIB, QFSR or above.
   A Qualified Financial Services Representative may use the designation QFSR or NIBA Coll. QFSR after his or her name.
   
5. A Certified Professional Insurance Broker of the College is a practitioner class and applicants must satisfy the Board that he or she has:
   1. Completed the NIBA College Certified Professional Insurance Broker;
   2. Has held the QPIB designation for 2 years and has been engaged as a practising insurance broker for 6 years;
   3. Has participated in continuing professional development as required by the Board in the 12 month period prior to the date of his or her application
   4. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   5. His or her nomination has been proposed by a QPIB, QFSR or above.
   A Certified Professional Insurance Broker may use the designation CPIB or NIBA Coll. CPIB after his or her name.
   
6. A Fellow of the College must satisfy the Board that he or she has:
   1. An Advanced Diploma of Financial Services or the Graduate Diploma of Financial Services with NIBA College or equivalent;
   2. Has a minim mum of 2 years as a CPIB or 5 years as either a QPIB or QFSR;
   3. Has participated in continuing professional development as required by the Board in the 12 month period prior to the date of his or her application
   4. Can overcome any written objection lodged by any member relating to his or her professionalism and business ethics; and
   5. His or her nomination has been proposed by a QPIB, QFSR or above.
   A Fellow may use the designation Fellow NIBA Coll. after his or her name.

Inactive members

A practitioner member may become inactive due to unemployment, illness or other adverse situations. A person may become inactive on their request and approval by the registrar. A member can be inactive for no more than 24 months before being reclassified as an Affiliate member.

Student members

Those currently involved in vocational education or a higher learning institute and not currently employed at a particular level within the industry. Students can keep their student membership for 12 months from the date of their graduation. This may be a type of affiliate class with a lesser fee.

Please note: Honorary Fellowship of NIBA is awarded at the Board’s discretion and is not based on education or industry experience and will remain as is. 

Continuing Professional Education requirements

Each practitioner member of the College must comply with this rule in order to remain eligible to be a member of the College.

A member must attain the minimum number of CPE points over the required time period as determined by the Board from time to time.

Members must submit to the College a CPE declaration verifying their CPE participation for the relevant time period. The declaration must show:

1. Whether they have met the minimum requirement for the time period, and
2. The amount of time claimed for each of the qualifying categories where relevant.

The college reserves the right to undertake random audits of member compliance with this rule. If a member is audited they must submit a Record of CPE on the appropriate form and show evidence of their compliance with this rule. Such evidence may include attendance lists, enrolment confirmations, receipts, diary records, diplomas.

The CPE activities that a member may participate in for the purposes of this rule are those activities determined by the Board from time to time to be CPE activities.

Membership Code

All members of the College must comply with this rule in order to remain eligible to be a member of the College.

NIBA College Membership Code describes the expectations and obligations associated with membership in the College. As a condition of membership, all College members are required to conduct themselves consistent with the Membership Code.

The Membership Code has not been presented in a legally rigorous manner, nor does it present all circumstances which might be considered inappropriate or unacceptable conduct. Rather it establishes a set of fundamental principles to guide members in discharging their responsibilities in relation to their risk and insurance practice. Failure to comply may result in expulsion from membership.

Membership Code

• Members will maintain high standards of integrity and professional conduct.
• Members will practice fairness and honesty.
• Members will encourage others to act in a professional and ethical manner.
• Members will comply with laws of Australia and operate within the spirit of those laws.
• Members will respect and protect the intellectual property rights of NIBA or NIBA College, including any trademarks, logos and copyrights.
• Members will not use NIBA or NIBA College membership lists for business solicitation purposes.
• Members will not engage in direct marketing and making unsolicited calls to other members.
• Members will not use all or part of College listings, including membership directory, online member listings, conference attendees and educational course participants for selling, prospecting or creating a directory or database.
• Members will treat all information furnished by NIBA or NIBA College as confidential and will not reproduce material without NIBA’s written approval.
• So order personal conduct as to uphold and not injure the standing and reputation of the NIBA or NIBA College.

Practitioner members of NIBA College are expected to strive for the highest possible degree of professionalism in their day to day practice. In addition to the above, a practitioner member should at all times discharge allotted and accepted responsibilities as a risk and insurance practitioner with integrity and observe those standards prescribed in the Insurance Broking Code of Practice and any other relevant, accepted industry code determined from time to time by the NIBA Board.

Membership Eligibility

Eligibility for membership and the enrolment process is set out in the College membership rules.

Membership of the College is conditional upon the members accepting and abiding by the rules and the member acknowledging that these rules are binding upon and enforceable against the member by the NIBA Board.

The NIBA Board has designated the NIBA Registrar or designee as their authorised representative for the approval of College membership applications.

A member is any individual that fall into one of the classes of membership.

The type of membership is selected by the applicant when filling in the application for membership. Membership category may be changed on written request to the Registrar.

There are five levels of membership and all offer opportunities to actively participate in NIBA and NIBA College activities.

Acceptance of College Membership

To activate membership of NIBA College, each interested person must complete the application form and submit it to the NIBA Registrar and await confirmation of approval.

The NIBA Board shall decide on accepting applications for College membership based on written applications for membership.

Applications must be written applications sent to the College on the appropriate form.The application form must be accompanied by a declaration on accepting the principles and rules of the College. The declaration is filled in and signed and attached to the application form. If the declaration form is not attached to the application, the application will not be considered.

Application forms and the declaration on accepting the principles and rules of the College are available on the NIBA and NIBA College websites.

Application for College membership shall be rejected if the natural person applying for College membership does not fill the requirements for membership.

The Board can reject an application and not have to provide a reason for the rejection.

The Board can similarly determine issues relating to the membership designation offered, certification and the assignment of CPE points.

Termination of membership

Membership of the College is voluntary.

Termination of membership will occur in the following conditions:

• On written request of the member;
• If the member dies;
• If the member fails to pay after two payment demands;
• If the member violates any provision of the College internal regulations or the Membership Code;
• If the member fails to fulfil his or her obligations even after written notification; or
• If the member jeopardises the College reputation.

The decision on termination of membership in the College shall be adopted by the NIBA Board.

A member who requests termination of membership for the currently ear before the due date of his or her fee shall pay half the amount of the annual membership fee.

A member whose membership has terminated on his or her own request may reapply for membership after the expiry of 6 months form the decision on the termination of membership.

An expelled member whose membership is due to his or her failure to fulfil his or her duties as a member or his or her violation of any provisions of the College may reapply if the reason for the expulsion has ceased to exist but at least one year after the date of expulsion.

Following cessation of College membership under any circumstances:

• NIBA can inform members that the member is no longer a member;
• Individuals at their own cost must cease to hold him or herself out as being a member and remove the College logo from all materials.

Rights and obligations of Members

Members of the College have the right to certain services depending on their level of membership.

All members of the College have the right to:

• Receive a copy of the Insurance and Risk Professional magazine
• A discount on College services and some NIBA events
• Receive information about NIBA and NIBA College conferences, seminars and workshops
• Individual log into the dedicated members section of the NIBA College website where they can administer their membership account
• Receive relevant briefings, newsletters and announcements
• Access to relevant free online introductory learning programs
• Access to NIBA College advisors
• Participate in NIBA College surveys and discussion groups

Besides the rights listed above, practitioner membership classes have the right to:

• Receive a copy of the NIBA Gazette
• Access to NIBA Technical Services
• Professional toolbox and regulatory updates

Members shall:

• Regularly pay their membership fees if not employed by a NIBA Principal member;
• Comply with the internal regulation of the College;
• Promote the NIBA Membership Code and protect the reputation of the College;
• Inform the College of any changes to their data i.e. address, contact details etc.

NIBA Principal Members are required to inform NIBA of any changes to the number of employees and type of their activity that might affect the amount of the membership fee.

College Logos

College members can use the College logo in accordance with the rules. All intellectual property rights in the logo reman the property of NIBA at all times. If NIBA considers use of the College logo improper it can require it to cease or be corrected.

Member Names

Members grant the College the right to publish member names for purposes of promoting the College.

Member Audits

The member acknowledges that the College may carry out certain auditing, monitoring and verification activities in respect of members set out in the College procedures.

Membership Fees and Charges

The College membership fee is a contribution of member to the general development of the College and broking professionalism.The amount of the membership fee for natural persons depends on the type of membership.The amount of the membership fees will be determined by the NIBA Board.

Members acknowledge that the College may introduce charges to cover administration. These charges will be introduced in consultation with the NIBA Board and will follow a reasonable period of notice to members. If a member is unwilling to pay such charges he or she can withdraw from College membership.

Any Member who ceases to be member of the College forfeits any subscription fees or levies paid by the Member prior to cessation of membership.