Veteran Kiwi broker Allan Morris has been elected as the first President of the Insurance Brokers Association of New Zealand (IBANZ). Mr Morris, who is the non-executive Chairman of Willis NZ, took over from interim Chairman Robert Martin at the new association’s first annual general meeting in Christchurch on Thursday.

He has some tough challenges ahead of him. Apart from the need to recruit a new CEO following the abrupt departure of Denis Orme a few weeks ago, Mr Morris will also have to lead IBANZ through negotiations with the Government over impending new regulations.

“Regulation of the industry is the major issue facing us now,” he told Sunrise Exchange News. “At this stage [regulation in NZ] will be different from Australia’s in that it’ll concentrate on the commercial sector rather than the retail sector.

“But brokers are going to have to improve their competencies. There will be new standards based around professionalism. Education and regulation are linked in that regard.”

Mr Morris says regulation will be a positive development for brokers. Pointing out that the average age of NZ brokers is about 57, he says young people have to be attracted to the industry to assist succession planning.

The new IBANZ board of directors is:

Kevin Allen (Insurance Consultants, Auckland); Tony Butson (C&G Rothbury, Auckland); Duane Duggan (Marsh, Auckland); Malcolm Flowers (Malcolm Flowers Insurances, Taupo); Murray Hall (Murray Hall Insurance Brokers, Whangarei); Pam Hardy (Tararua Insurance Brokers, Levin); Guy Harvie (GHI Group, Tauranga); Lindsay Kerr (IC Frith, Rangiora); Richard Russell (Crombie Lockwood, Invercargill); Garry Stewart (Vision Insurance, Auckland); and Paul Weir (Aon Risk Services, Auckland).