The British Insurance Brokers’ Association (BIBA) will review its board governance, how effectively it works with other industry associations and development of a compulsory code of conduct for members.

BIBA will hold meetings with its 2000 member firms around the nation to consider how its resources can be strengthened, segmentation of membership and its commercial activities.

The review is a response to a report it commissioned from Deloitte.

BIBA Chairman Andy Horner says the report was generally very positive but identified some key points for review.

“BIBA has been around since 1977 and times have changed, so we need to reflect this and ensure BIBA is as strong as it can be to represent members during these challenging times, and in the foreseeable future,” he said.

The review will consider developing a principles-based code of conduct that would be compulsory for members.

It will examine the optimal size and representation of the board, committee structures and creation of an advisory board.

Ways to strengthen the executive will be mooted, along with clear segmentation of members to ensure relevance and effectiveness of representation and service delivery.

Co-operation with other organisations, such as the Association of British Insurers and Lloyd’s, will be considered as part of the general insurer sector presenting “one voice”.

BIBA’s commercial activities will be reviewed to improve income on an open and fair basis.