The National Insurance Brokers Association (NIBA) has increased membership fees by 20%.

CEO Noel Pettersen says the membership fees have remained steady for many years, with a rise of less than 1% over the past 15 years.

He told insuranceNEWS.com.au principals can now pay an all-inclusive fee or elect for individual or professional members to pay their own reduced $99 fee.

“In real terms the increased fee does not represent a huge increase, as it’s for a 13-month membership – and in no case does the total increase exceed 20%.”