Following the Australian Securities and Investments Commission's recent spate of exposing fraudulent insurance brokers, the National Insurance Brokers Association (NIBA) has warned that policyholders should be more wary than ever about who they’re entrusting their cover to.

CEO Noel Pettersen says he is particularly concerned that some people are posing as insurance brokers and operating without a licence. It is imperative, he says, that people deal with brokers who are qualified to understand their needs and make the best possible recommendations.

“Arranging proper cover for a business is not a simple matter of selecting a policy and mailing a cheque,” he said. “NIBA brokers are at the top of their field in professionalism, and usually cost no more than if someone was to do all the leg-work themselves.”