NIBA Welcomes Independent Reviewer's Report on Code of Practice

The National Insurance Brokers Association (NIBA) has received the report by Independent Reviewer cameron. ralph. khoury (‘crkʼ) on the Insurance Brokers Code of Practice (the Code). NIBA welcomes the report as an important step of the Code review process and a key marker of the professionʼs ongoing commitment to self-regulation.

NIBA thanks Phil Khoury and his team from cameron. ralph. khoury for its comprehensive and independent review of the Code. We sincerely value the thorough, thoughtful and balanced consultation process undertaken to understand the diverse needs of our members and the profession.

“On behalf of the NIBA Board, I want to thank Phil and the team at cameron. ralph. khoury for a considered and insightful report,” said NIBA President Nick Cook.

“The recommendations reflect a deep understanding of our profession and evolving consumer expectations, ensuring that the Code continues to uphold the highest professional standards,” Nick said.

The Code review process has been robust and independent, with Phil leading extensive consultation across the broking profession and key stakeholder groups. Throughout the review, the guiding principles of transparency, modernisation, accessibility, flexibility and efficiency have been applied to ensure meaningful outcomes for brokers and their clients.

NIBA would like to thank its members, the Insurance Brokers Code Compliance Committee (IBCCC) and other key stakeholders for their strong engagement throughout the review process. Their time, feedback and practical insights are critical to maintaining a Code that is both aspirational and grounded in best practice.

“The breadth and depth of engagement we have seen throughout this review speaks to the profession's genuine commitment to strengthening transparency and accountability,” said Chair of the Code Review Committee Di Phelan.

The Code is an important signifier of trust, setting clear standards of professionalism and ethical conduct for the profession.
“Codes are fundamentally about trust and confidence, signalling to clients, regulators and the wider community that a profession is prepared to hold itself to account,” said NIBA CEO Richard Klipin.

“This is an opportunity for NIBA to demonstrate leadership on behalf of our members and reaffirm our commitment to the highest professional standards, now and into the future,” added Richard.

The NIBA Board is carefully considering the Independent Reviewer's report. A response to the Reviewer's report will be released soon. NIBA will continue engaging with members and key stakeholders regarding next steps.

You can know more about the Code Review timeline through this infographic.