The National Insurance Brokers Association (NIBA) CEO Richard Klipin has outlined the association’s goals for 2025, focusing on advocacy, professional standards, and community initiatives.
Klipin (pictured) emphasised the importance of addressing challenges such as rising premiums, underinsurance, and evolving consumer needs while maintaining the role of brokers as trusted advisers.
In his message to members, Klipin stated that NIBA’s activities in 2025 would centre around the group’s core pillars: representation, professionalism, and community. These efforts include engagement with policymakers, a review of the Insurance Brokers Code of Practice, and industry-wide events to foster collaboration.
With a federal election on the horizon, NIBA is prioritising political engagement to ensure that policymakers understand the critical role of brokers in the Australian insurance market.
Klipin highlighted recent discussions with federal and state leaders, including Assistant Treasurer and Minister for Financial Services Stephen Jones, as well as consultations with New South Wales politicians on key issues such as strata insurance and workers’ compensation.
NIBA welcomed the findings of the “Flood Failure to Future Fairness” report, which offered 86 recommendations aimed at improving disaster resilience and insurance outcomes for Australians affected by extreme weather. Klipin stated that the association would continue to advocate for reforms addressing affordability and accessibility of insurance.
To support its advocacy efforts, NIBA is preparing resources for members to engage with their local MPs during the election period. These materials will include information on key issues and guidance on how to communicate the value of insurance brokers to the broader community.
Focusing on the review of the Insurance Brokers Code of Practice in 2025, Klipin confirmed that independent reviewer Phil Khoury of Cameron Ralph Khoury would oversee the process, which seeks to ensure that the code reflects evolving consumer needs and industry expectations.
Data from the IBCCC showed a 26% increase in self-reported breaches since 2020. While this indicates greater transparency within the profession, Klipin noted that maintaining trust and accountability remains a key focus for brokers.
The Australian Financial Complaints Authority (AFCA) reported that only 584 complaints in 2024 were related to brokers, out of more than 104,000 complaints lodged across the financial sector. While this represents a low percentage, Klipin said it underscored the need for brokers to continue adhering to high standards of service.
NIBA’s plans for 2025 include initiatives designed to support the broking profession and encourage collaboration. Regional networking events will take place in July, and the annual NIBA Convention is scheduled for October on the Gold Coast. The convention will feature keynote speakers and panel discussions addressing emerging trends and challenges for brokers.
In addition to professional events, NIBA’s “Insure Your Future” campaign, launched last year, will continue to promote insurance broking as a career path. The initiative aims to attract new talent to the profession and address workforce sustainability concerns.
The rising cost of premiums, driven by frequent natural disasters and higher reinsurance expenses, remains a significant issue for the industry. Klipin stressed the need for innovative solutions to ensure insurance remains accessible, particularly for those at risk of underinsurance.
As 2025 begins, Klipin reaffirmed NIBA’s commitment to supporting brokers as they navigate the challenges of a changing market. He emphasised the importance of collaboration between brokers, policymakers, and stakeholders to address issues such as affordability, regulatory compliance, and professionalism.
