NIBA to Appear Before Parliamentary Joint Committee on Small Business Insurance
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Insurance
NIBA will appear before the Parliamentary Joint Committee on Corporations and Financial Services next week to discuss the role of the broking profession in supporting small businesses and not-for-profits navigating insurance.
Appearing for NIBA will be CEO Richard Klipin, President Nicholas Cook, Vice-President Rebecca Wilson, and Policy and Advocacy lead Ben Marshan.
The appearance follows NIBA's March 2026 submission to the inquiry, which set out twelve recommendations across three interconnected themes.
The three themes are as outlined below.
The first addresses the consumer protection gap in the Corporations Act: small businesses are not classified as retail clients when buying the commercial products they most need — public liability, professional indemnity, cyber and business interruption — leaving them with materially weaker protections than when buying motor or home cover. NIBA recommends a review of the section 761G(5) prescribed product list and a regulatory impact review specific to general insurance broking.
The second targets state and territory reform, including national harmonisation of workers' compensation, abolition of insurance-based emergency services levies, and consistent stamp duty treatment.
The third addresses sector-specific challenges, including sustainable market solutions for high-risk not-for-profit activities, public liability cost drivers, cyber awareness and education, government procurement reform, and expanded resilience grants for SMEs.
NIBA has been engaging with Senator Deborah O'Neill, Chair of the Parliamentary Joint Committee on Corporations and Financial Services, and will speak to these recommendations at the hearing. NIBA looks forward to engaging constructively with the Committee.
