Guidance

The marketplace is constantly changing with macroeconomic influence from the global economy, Brexit, changes in customer buying habits, digital advancements, and new risks of fraud. The one certainty is that nothing stays the same. 

Indeed, in the broking sector there has been a significant amount of market consolidation, as mergers and acquisitions see firms come together to create larger, stronger propositions. Claims are also changing with more than a third of UK businesses suffering a cyber breach or attack in 2018 but as few as 3% of small business and only up to 11% of all business bought cyber insurance.*

BIBA COMMITMENT

To help members stay up-to-date with the latest issues and to help their customers better understand how to reduce or transfer their risk, we will produce guidance on:

  • Product recall
  • Secure markets – client facing guidance by Litmus Analysis and a new technical briefing on insurer security
  • Sustainability
  • Trade credit insurance
  • Cyber insurance for SMEs 
  • Market agreement on lender interest in insurance contracts
  • Guidance on what constitutes a ‘declinature’ in comparison to a ‘no-quote’
  • Waiver clause for disclosure of old claims
  • Long Term Agreements
  • A contemporary guide to Business Interruption insurance

BIBA has more than 1,800 individually FCA regulated firms registered as members. 

With more than 600,000+ enquiries through our
Find Insurance services in the last year.