National Insurance Brokers Association (NIBA) CEO Dallas Booth has gathered international support as he moves to prevent a ban on general insurance commissions.

Mr Booth briefed international colleagues on the impact of the Hayne royal commission at the annual meeting of the World Federation of Insurance Intermediaries in Rome.

The Hayne royal commission’s final report recommends general insurance commissions form part of a further review, but brokers have warned that outlawing them would “decimate” the industry.

Mr Booth told insuranceNEWS.com.au that other jurisdictions face similar regulatory pressures, and broker organisations worldwide have pledged to work together to make their case.

“The whole group is acutely aware that the concept of conflicted remuneration is a common theme among regulators,” he said.

“It is increasingly important that we collectively develop a strong explanation of the value and benefits of insurance brokers.

“The way broker remuneration is working is not leading to poor or distorted outcomes in the way many regulators assume.”

Mr Booth says brokers in the UK, Europe and South Africa face similar threats on commissions.

“We agreed this is something we need to keep on our agenda,” he told insuranceNEWS.com.au. “We have committed to develop strong statements on the value and benefit of brokers.”

In Rome Mr Booth also met senior officials from the Organisation for Economic Co-operation and Development and the International Association of Insurance Supervisors, plus the insurance regulator for Italy. He says World Federation of Insurance Intermediaries meetings give regulators a chance to meet and discuss issues.

“It is critically important that the [broking] industry has input into their discussions,” he said.