International Information
The National Insurance Brokers Association of Australia (NIBA) is the peak professional body for insurance intermediaries in Australia. Formed in 1982, as a result of a merger of two earlier broker associations, NIBA represents around 500 member firms and 2,200 individual members who are all QPIB’s.
NIBA is a member of the Council of International Insurance Broker Associations (CIIBA) where it plays a major role in promoting international standards of practice and broker education. Other CIIBA members include associations in Indonesia, Ireland, Fiji, Hong Kong, Malaysia, New Zealand, Singapore, South Africa, Taiwan, Thailand, The Philippines and the UK. NIBA’s Chief Executive Officer, is a past Chairman of CIIBA.
NIBA’s role is to assist its individual and corporate members to embrace and adopt high standards of professional competence and conduct. This ensures they are able to deliver high standards of service and expertise to those who rely on them for insurance and risk advice.
NIBA has internationally recognised professional designations awarded to individual practitioners who meet its strict system of professional standards:
- Qualified Practising Insurance Broker TM - QPIB®; and
- Qualified Financial Services Representative TM - QFSR®.
Both designations are awarded to qualified individuals employed to a NIBA member firm. The QPIB® designation is also awarded to those employed by members of approved broking associations in New Zealand and Singapore.NIBA also awards QPIB International to qualifying individuals who are members of recognised overseas broking associations.
These certification marks are owned by National Insurance Brokers Association of Australia and can be used by individuals accredited by NIBA to indicate their professional status.
QPIB International
The QPIB system provides a professional edge which helps brokers to position themselves positively with the media, government regulators, consumer bodies and the insurance industry.
QPIB status is a valuable selling tool for individual brokers. It allows them to proudly promote their expertise to existing and potential clients. For example, brokers can use the QPIB insignia for point of sale display and on business correspondence. The QPIB design is a protected trademark and can only be used by firms and individual brokers that meet the standards.
If your local association does not offer the QPIB program, eligible brokers can apply for QPIB International status directly to NIBA. To apply, individual brokers must submit an application form with resume that is accompanied by documents relating to:
- Qualifications: Applicants must have completed the Diploma in Financial Services (Insurance Broking).
- Work Experience: Evidence is required that applicants have engaged in 3 years full time employment with a licensed or regulated broking business in their country of residence.
- Professional Standing: Applicants must show evidence of membership of a broker’s association recognised by the NIBA Board in your country of residence. Currently recognised organisations include:
- Irish Insurance Brokers Association;
- Institute of Insurance Brokers (UK);
- British Insurance and Investment Association;
- Hong Kong Confederation of Insurance Brokers;
- License Insurance Brokers Association of Fiji;
- Insurance Brokers Association of South Africa;
- Singapore Insurance Brokers Association;
- The South African Insurance Brokers Association;
- Independent Insurance Brokers Association of New Zealand;
- Corporation of Insurance Brokers New Zealand;
- Association of Insurance Brokers and Agents Israel;
- Insurance Brokers Association of Malaysia
A QPIB International applicant must be able to overcome any written objection lodged by any NIBA Member relating to his/her professionalism and business ethics.
- Continued Professional Development (CPD): Applicants must submit a CPD form that shows he or she has undertaken no less than 24 hours of professional training in the past 12 months prior to your application.