The National Insurance Brokers Association (NIBA) broker of the year award will be renamed the Stephen Ball Memorial Award, in honour of the former association president and JLT chairman who died last year.

The annual award will be sponsored by QBE, which has signed a three-year deal.

It replaces the NIBA Broker of the Year Award, which was sponsored by Zurich.

Five regional winners will compete for the new national prize, worth about $20,000, with the victor to be announced at this year’s NIBA Convention in Melbourne in September.

“Stephen embodied all the qualities we look for in insurance brokers, and we believe this is a fitting tribute for all he brought to the profession,” association CEO Dallas Booth said.

“We’re extremely pleased to be partnering with QBE on such a prestigious award, and we are very grateful for the support it will be providing.”

QBE EGM Intermediary Distribution Jason Clarke says the insurer is proud to sponsor the award, and Mr Ball “epitomised the very best qualities of the broking profession”.

Maureen Ball is delighted to see her late husband’s contribution recognised.

“He was a strong advocate of the industry, and while he genuinely encouraged self-development, he recognised that a strong industry needs its members to participate to keep it relevant and robust,” Ms Ball said.

Regional nominations open today and run until April 15. To nominate online, click here.