Principal Members of NIBA are companies, trusts, partnerships or sole traders working as a general, life or reinsurance brokerage or underwriting agency. Currently there are around 360 NIBA member firms operating from nearly 800 locations nationwide.
There 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 where there is a common shareholding.
Applications are considered very carefully to ensure that not only AFSL requirements are met, but that the applicant also meets NIBA's own strict conditions. If approved as a member, your firm must agree to abide by the Constitution and the Rules and Regulations of NIBA. This includes adhering to NIBA's Code of Conduct, set out in the Rules and Regulations document.
A Principal Member applicant must have a director/shareholder/partner that is able to qualify as a NIBA QPIB, CPIB, QFSR or NIBA Fellow. A Corporate Associate member must also have either a NIBA QPIB, CPIB, QFSR or NIBA Fellow in a responsible position in their office. This designation must be maintained at all times.
How to apply
The application process for NIBA Principal membership takes approximately eight to 10 weeks. The NIBA Membership Manager will formally contact you once the membership process has been completed.
There are two stages:
Stage 1: Complete the online application
Applications can only be considered once you have completed the online application and you have attached the required proof documents.
Stage 2: Business reputation check
Applicants names are listed in a monthly email to all NIBA members. If no objections are received the application is referred to the NIBA Divisional Committee in the applicant's region. Once the Divisional Committee approves the application it is referred to the NIBA Board for final approval.
NIBA membership fees are competitive, regularly reviewed and are tax deductible.
For all membership inquiries, contact NIBA Membership Manager Audi Witsen 02 9459 4308 or email email@example.com.