Individual membership

As the peak industry body, NIBA promotes the highest standards of insurance and risk practice in the community.

NIBA membership is open to all those with a career in the insurance risk industry. There are various levels of membership available, which are aligned to your current qualification level, relevant industry experience and Continuing Professional Development (CPD) participation.

Membership of NIBA allows practitioners to establish their credentials in a similar way to other professional groups in key areas of qualifications and experience, ethical conduct, ongoing professional education and membership of a professional community.

Individual membership designations

Membership status is a valuable selling tool for individual practitioners. It allows you to proudly promote your expertise to existing and potential clients. Each level of membership is able to use a specific certification mark to indicate their professional status on business communications. The designs are protected trademarks and can only be used by individuals that meet the standards.

The existing membership designations are:

NIBA Associate

An Associate of NIBAa practitioner class of membership for those who are studying towards an accredited program, or already hold a full or partial financial services qualification under the level of Diploma.

Applicants must at least:

  • be enrolled in an accredited program under the level of Diploma of Financial Services at NIBA; or
  • hold a full or partial financial services qualification under the level of Diploma with NIBAor another registered training organisation or equivalent;
  • be employed  by an AFSL holder.

Associates are required to complete 25 hours of Continuing Professional Development annually and may carry any additional hours over to the following year.

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Qualified Practising Insurance Broker (QPIB)

A NIBA  Qualified Practising Insurance Broker is a practitioner class for those who have fully qualified as a broker.

Applicants must at least have:

  • a Diploma of Financial Services (Insurance Broking) with NIBA  another registered training organisation or equivalent;
  • a minimum of 4 years’ experience as an insurance broker; and
  • Participated in Continuing Professional Development as required by the NIBA Board in the 12-month period prior to the date of his/her application.

A QPIB member is entitled to use the post nominal “NIBA College (QPIB)” and use the QPIB logo on their business materials.
 
QPIBs must complete 25 hours of CPD a year. Additional hours can be carried over to the following year.

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Qualified Financial Services Representative (QFSR)

Applicants must at least have:

  • a Diploma of Financial Services with NIBA College or another registered training organisation or equivalent;
  • minimum of 4 years’ experience providing financial services; and
  • participated in Continuing Professional Development as required by the NIBA Board in the 12-month period prior to the date of his/her application.

A QFSR member is entitled to use the post nominal “NIBA (QFSR)” and use the QFSR logo on their business materials.
 
QFSRs are required to complete 25 hours of CPD annually. Additional hours can be carried over to the following year.

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NIBA Fellow

Applicants must at least:

  • Have held the accreditation of QPIB for a minimum of 5 years; or the accreditation of  CPIB for 2  years;
  • Have an Advanced Diploma of Financial Services/Insurance Broking or Graduate Diploma of Financial Services/Insurance Broking from NIBA College or equivalent;
  • participated in Continuing Professional Development as required by the NIBA Board in the 12-month period prior to the date of his/her application.

These members are entitled to use the post nominal “ NIBA (CPIB Fellow)”, “ NIBA QPIB Fellow”, or “ NIBA (QFSR Fellow)” depending on the prior level of membership.
 
Fellows are required to complete 25 hours of Continuing Professional Development per year.

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Qualified Insurance Broker (QIB)

The Qualified Insurance Broker (QIB) designation is for senior brokers who are active in business but no longer managing clients or acting in the role of designated responsible managers for AFS license requirements.

Who is not eligible?

  • Those senior brokers still active with clients.
  • Those who are Responsible Managers involved in managing client advisory services.
  • Brokers involved in the above roles must retain their QPIB designation and complete the appropriate annual CPD requirements.
  • Those who are 55 years of age and have been a QPIB for more than 10 years meet the Senior QPIB CPD requirements i.e. by undertaking workplace projects, committee or board work, mentoring etc.

Former QPIBs that are retired from active business roles retain the designation QPIB (Retired).

Who may apply?

Senior brokers who are:

  • QPIBs with 10 years standing; and
  • Actively engaged in business. This may be through participation on boards, undertaking research projects, staff mentoring or industry training.

Successful QIBs are not required to undertake CPD requirements for practising brokers or responsible managers.

QIB is a professional designation and the individual is entitled to use the NIBA Qualified Insurance Broker (NIBA QIB) post nominal on his or her business correspondent.

Application process

Any eligible broker who applies for QIB membership must:

  • Describe his or her current role so that the membership registrar can determine if the broker complies with requirements.
  • Sign that the he or she will inform NIBA if their work role changes.
  • Reapply for QIB every 2 years.
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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 NIBA Registrar.

A member can be inactive for no more than 24 months before being reclassified as an Affiliate member.

Apply for change of status to the Memebership Manager Audi Witsen via email awitsen@niba.com.au.