Individual Membership

Membership of NIBA allows practitioners to establish their credentials and proudly promote their expertise to existing and potential clients.

Membership status is a valuable selling tool for individual practitioners. Each membership designation is signified by a specific certification mark to indicate professional status on business communications. The designs are protected trademarks and can only be used by individuals that meet the standards.

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.

Applying to join NIBA

Applications are considered very carefully to ensure that not only government requirements are met, but also NIBA’s own strict conditions. If approved as members, individuals must agree to:

The application process

The application process for NIBA membership takes approximately 8-10 weeks.

Step 1: Apply Online

Step 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 State. Once the Divisional Committee approves the application it is referred to the NIBA Board for final approval.

Step 3: Confirmation of Membership Offer

On approval of your documents by the NIBA Registrar, state Divisional Committee and the NIBA Board, a membership confirmation and offer will be sent to you. Upon receipt of your payment of fees a membership pack which includes NIBA information and a membership certificate will be forwarded.

Individual membership designations

Associate

An Associate of NIBA’s practitioner class of membership for those who are studying towards an accredited program, or already hold a full or partial financial services qualification.

Applicants must:

  • be enrolled in or hold a full or partial financial services qualification under the level of Diploma;
  • be employed by an AFSL holder; and
  • obtain a minimum of 25 CPD points annually.

An Associate member is entitled to use the post nominal “NIBA Assoc.” and use the Associate certification mark on their business materials.

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 have:

  • a Diploma of Insurance Broking;
  • a minimum of 4 years’ experience as an insurance broker; and
  • obtained 25 CPD points in the 12-month period prior to the date of his/her application.

A QPIB member is entitled to use the post nominal “NIBA QPIB” and use the QPIB certification mark on their business materials.

Qualified Financial Services Representative (QFSR)

Applicants must have:

  • a Diploma of Financial Services;
  • minimum of 4 years’ experience providing financial services; and
  • obtained 25 CPD points 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 certification mark on their business materials.

NIBA Fellow

Applicants must:

  • have held the accreditation of QPIB for a minimum of five years or the accreditation of CPIB for two years;
  • have an Advanced Diploma of Financial Services/Insurance Broking or Graduate Diploma of Financial Services/Insurance Broking; and
  • obtained 25 CPD points 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.

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 AFSL 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;
  • declare that he or she will inform NIBA if their work role changes; and
  • reapply for QIB every 2 years.
Affiliate

An Affiliate is a non-practitioner status for those working in the sector but without a qualification in a broking or risk related area.

The NIBA Affiliate may work in a variety of business support roles such as training managers, underwriters, claims handlers, compliance officers, financial planners or customer service representatives. Applicants must at least be employed in a licensed or legally authorised financial services business under Chapter 7 of the Corporations Act 2001 (Cth).

Due to the nature of this membership, the Affiliate class does not bestow any rights to the use of a post nominal.

Inactive Members

A practitioner member may become inactive due to unemployment, illness or other adverse situations. A person may become inactive upon 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 NIBA Membership Manager Audi Witsen via email awitsen@niba.com.au.