The National Insurance Brokers Association (NIBA) has set the terms of reference for a review of the Insurance Brokers Code of Practice and is seeking submissions by May 31.

Professional Financial Solutions has been appointed to assist in conducting the review. The review team from the firm comprises Philip Maguire, Simone Thompson and Rebecca Johnstone.

The reviewers will consult with members and stakeholders on the operation of the code, with a view to determining whether the code is meeting its stated purpose. They will also consult on whether it should be amended or enhanced, and develop recommendations for the NIBA board.

The code was last reviewed in 2006.