NIBA builds relationship with new Labor Government

Last week NIBA CEO Phil Kewin and Vice President Gary Okely were in Canberra to build a relationship with the new Labor Government.

High on the list was Hon. Stephen Jones MP, Assistant Treasurer and Financial Services Minister. The discussion topics ranged from accessibility and affordability of insurance to the Quality of Advice review, which encompasses the review of general insurance commissions, and will be handed to the Minister on December 16 2022.

NIBA has confirmed from Treasury that a Quality of Advice Review consultation paper will be released shortly, which will focus on affordability and accessibility of advice, and simplifying the regulatory framework.

Consultations on conflicted remuneration and commissions will occur at a later date.

The Minister is a keynote speaker at the upcoming 2022 NIBA Summit and will no doubt touch on these and more topics, including the Government’s commitment to invest $200m per year in disaster resilience though its Disaster Ready Fund.

“It was a meaningful and productive meeting, and I look forward to introducing the Minister to NIBA Members at the upcoming NIBA Summit.

“It’s so important to build good trusting relationships and is a timely reminder for those wishing to meet their local MP by using the NIBA Advocacy Guide on the NIBA website,” Mr Kewin added.

The Minister will present at the NIBA 2022 Summit in Sydney on 12 October 2022.