Alliance will see the establishment of a Broker Forum

By Business & Finance
14 May 2015
Broker Forum
Donal Milmo-Penny, PIBA chairman; Ciaran Phelan, IBA CEO; Diarmuid Kelly, PIBA CEO; Brendan Spring, IBA president

Insurance representative bodies join forces paving the way for joined-up thinking in the sector.

Ireland’s leading insurance representative bodies, the Irish Brokers Association (IBA) and the Professional Insurance Brokers Association (PIBA) have announced an alliance that will see the establishment of a Broker Forum, under the auspices of which they will join forces to work on common interest initiatives and developments that will support Ireland’s Brokers in offering the very best independent advice to their clients. The Forum will be formed through a memorandum of understanding between both parties in which they will agree to co-operate under the banner of ‘Brokers Ireland’. Between them, both groups represent approximately 1,300 Insurance and Financial Brokers nationwide and are committed to maintaining the integrity of the sector and to driving it forward.

Speaking of the announcement, Ciaran Phelan CEO of IBA said, “The purpose of the Forum is to combine resources, knowledge, expertise and, where the situation merits, to speak with one voice – representing our 1300 members throughout the country. Our intention is to create a structure which will enable both bodies to leverage the expertise and skills of each other and to create a positive alignment of interests. By pooling our capabilities we are confident that we can be an even greater force in Ireland’s insurance sector – continuously lobbying for and working towards greater improvements and increased efficiencies, and always striving for best practice in Ireland’s financial services sector.”

Diarmuid Kelly CEO of PIBA commented: “This is an exciting new departure for both organisations. Both bodies celebrate major milestones this year – with 2015 seeing the IBA and PIBA reach their 25th and 20th anniversaries respectively but this unity marks a unique development for both bodies to formally enter into an agreement to co-operate on important industry issues that affect brokers.”

Brokers Ireland will comprise three representatives from each Association – the CEOs and two representatives from both the IBA and PIBA and will meet as required to agree a formal position on a number of important industry and regulatory challenges facing the industry and the broker.

Diarmuid Kelly added: “We are aiming to create an alliance which fosters innovation and communication and which ultimately works to lobby for positive change on behalf of the industry and to generate ideas which will benefit brokers and their clients.”