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Broking group extends membership criteria

Broker cluster Insight Insurance Brokers Association is planning to extend its membership criteria to include independent authorised representatives (ARs).

Executive Officer Bill Friend says the move recognises the growing presence of ARs in the broking sector, and there’s a need for group representation, support and assistance.

Previously only licensed brokers were granted membership rights by Insight.

“Some ARs are second or even third-generation insurance people,” Mr Friend told insuranceNEWS.com.au. “They represent three or four insurers and in many ways operate like small brokers.”

Insight is primarily targeting authorised representatives from regional and rural areas in step with the group’s focus, but Mr Friend says he would also welcome urban members.

“Over the next two years we expect significant growth,” he said. “Geographic spread is what we are looking for, as that allows us to represent our supporting insurers as widely as possible.”

Insight currently has 34 national members, who write more than $200 million in annual gross written premium.

Members of the association will meet to discuss the new representation plan at Insight’s annual conference on May 28-30 at the Wrest Point Hotel and Casino in Hobart, with the theme “Exploring the possibilities”.