Important Background Information

Who owns the Code?

The Code is an initiative of the National Insurance Brokers Association of Australia ACN 006 093 849 (NIBA) which has been recognised and respected for more than 30 years as the voice of the insurance broking industry in Australia.

About NIBA

Since its incorporation in 1982, NIBA has been a driving force for change in the Australian insurance broking industry, setting higher standards of professionalism and education for insurance brokers, establishing professional qualifications (Qualified Practising Insurance Broker - QPIB) and providing ongoing training and support for insurance brokers through NIBA.

NIBA represents nearly 400 member firms and over 3000 individual Qualified Practising Insurance Brokers throughout Australia.

Insurance brokers manage more than 90% of the commercial insurance transacted in Australia, and are a major stakeholder in insurance distribution, effectively managing over $16 billion in premiums annually and regularly accessing overseas insurance markets for large and special risks.

The Code commits us to:

  • high standards of customer service;
  • a free and transparent complaints and compliance review process; and
  • abide by any binding sanctions imposed on us under the Code for any breach.