The British Insurance Brokers’ Association’s (BIBA) turnover grew 8.8% to £5.99 million ($10.13 million) last year.

CEO Steve White says the increase is due in part to a small rise in membership fees, growing membership numbers and the evolution of the commercial team set up in 2014.

“In the past 18 months the association has, as well as its developing lobbying and public relations work, invested for members in its Standard & Poor’s insurer rating facility, plus a coming arrangement to allow members to check the financial status of unrated insurers,” he said.

“We also prepared and delivered guidance in relation to the Insurance Act 2016 and the problem of underinsurance.”

Mr White says BIBA has enhanced its communications team to keep members up to date and educate the media and public about the benefits of using brokers. 

Investment in the commercial team answers calls for BIBA to be more visible to grassroots members.

“This is all vital as we move towards Brexit. There will be increasing calls on BIBA to work with the Government and to ensure the views of brokers are taken into account during negotiations.”