The National Insurance Brokers Association (NIBA) says it is finalising strategies to increase community awareness of the need for insurance and the role of brokers.

Outlining priorities for the “new NIBA”, CEO Dallas Booth today told the association’s annual convention the board has reaffirmed four key objectives: industry representation, professionalism, community awareness and member services.

He says NIBA is working with the Insurance Council of Australia to support its upcoming Understand Insurance campaign.

The council’s GM Communications Campbell Fuller will outline the campaign tomorrow at the convention.

NIBA has also sought further funding from the Federal Government for NIBA College.

“We know a lot of members are waiting for this, and we are pursuing the matter with the new Government almost daily,” Mr Booth said.

About 190 brokers have completed the NIBA College diploma.

Mr Booth says the funding subsidises two-thirds of study costs for smaller companies.

“This was an excellent outcome for brokers completing their study, their employers and, more importantly, their customers.”

Over the next year NIBA will hold training and briefing sessions on the Insurance Brokers’ Code of Practice, which takes effect from January 1.

Mr Booth says the code is a strong statement of brokers’ commitment to customers and should be displayed proudly at offices and on websites.

“The code is something that should be managed by your marketing people, not your compliance team,” he told delegates.

More than 1700 people have registered for the convention – including about 1000 brokers – making it the largest NIBA forum in recent years and vindicating an overhaul that aimed to make it appeal to brokers at all levels of experience.

Mr Booth says NIBA’s representation to governments and regulators has achieved positive outcomes, such as having general insurance excluded from the ban on commissions in the Future of Financial Advice reforms, the life insurance commission exemption and ensuring the best-interests duty has only limited application in general insurance.

He says NIBA does not use “megaphone diplomacy” but argues brokers’ role as professional and trusted advisers makes them the only true source of advice on insurance matters.

“Governments are starting to understand this.”

NIBA will monitor the Federal Government’s proposed review of the financial system to assess any impact on insurance.

Mr Booth says awareness and use of the revamped Need a Broker service have increased and it is sending more than 2000 referrals a month to members.