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Professional Certification

Professional Certification

Professional Designations
NIBA has internationally recognised marks to designate individual practitioners who meet its strict system of professional standards.

• 1.Qualified Practising Insurance Broker ^TM - QPIB® - was introduced in 1992 for brokers; and
• 2.Qualified Financial Services Representative ^TM - QFSR® - was introduced in 2000 as the parallel designation for those in underwriting and other advisory roles in the insurance and risk sector.

 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.

 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 members of recognised overseas broking associations.

If you are interested applying to become a QPIB^TM contact niba@niba.com.au.

Professional certification standards

QPIB® and QFSR® practitioners are obliged to meet and maintain defined standards of knowledge, skills and behaviour:

• Qualifications
• Continuing Professional Development
• Experience
• Ethics

Those wishing to attain the designation Qualified Practising Insurance Broker ^TM complete the Diploma in Financial Services (Insurance Broking).Those seeking the Qualified Financial Services Representative ^TM designation complete the Diploma in Financial Services.

NIBA College provides educational programs for candidates to attain these professional designations.

All QPIB® and QFSR® applicants must demonstrate their commitment to keeping abreast of current regulatory and legislative changes that are occurring within the insurance & risk sector.New applicants must show they have achieved a minimum of 24 hours CPD in the twelve month period prior to their application.

As an approved QPIB® or QFSR® individuals must continue to undertake 24 hours of CPD annually which may be audited. The purpose of CPD is to develop a practitioner’s knowledge and skills so that they are able to:

• Offer clients up to date and effective advice
• Run efficient and profitable businesses
• Meet all regulatory requirements and standards.

All QPIB® and QFSR® applicants must have a minimum of 4 years experience in broking or advising in the industry.

In addition to adhering to current regulations and legislation, QPIB® and QFSR® practitioners are bound by their professional association’s code of conduct. For example, in Australia QPIB® brokers abide by the NIBA Code of Conduct and the industry-wide Insurance Broker’s Code of Practice.