The National Insurance Brokers Association (NIBA) has renewed its focus on global collaboration and local policy engagement following its attendance at the 2025 World Federation of Insurance Intermediaries (WFII) World Council meeting in Washington, D.C.
The annual gathering marked a quarter-century since the founding of WFII and drew representatives from more than 100 industry associations spanning 80 countries.
NIBA president Nick Cook, past president Gary Okely, and CEO Richard Klipin represented Australia, participating in discussions on sector-wide challenges, including regulatory reform, coverage accessibility, disaster resilience, cyber risk, and the global protection gap.
Cook said the opportunity to engage with international peers provided a broader perspective on how various markets are addressing insurance-related issues.
“Attending the WFII conference in Washington, D.C., was an invaluable opportunity for NIBA to engage with global insurance leaders and bring back critical insights to the Australian market. In a rapidly evolving risk landscape, it’s essential that we learn from international best practices to address key insurance challenges,” he said.
In addition to conference sessions, the NIBA delegation met with officials from the United States Treasury to gain a clearer understanding of policy responses to systemic risks.
Klipin said these engagements reinforced the value of cross-border collaboration.
“By fostering collaboration with influential global organisations like the OECD, IAIS, and the United States Treasury, we can help advocate for policies that strengthen the role of brokers and ensure better outcomes for Australian consumers. With the federal election on the horizon, these global learnings are more relevant than ever in advocating for a sustainable and resilient insurance sector in Australia,” he said.
NIBA’s international outreach comes at a pivotal time domestically, as the Australian federal election approaches in May. The association has been in active dialogue with policymakers, including Shadow Assistant Treasurer and Shadow Minister for Financial Services Luke Howarth, about the rising cost of insurance and its impact on accessibility.
Recent natural disasters, including bushfires in Victoria and extensive flooding in parts of Queensland, have further amplified affordability concerns.
NIBA said brokers continue to play a key role in supporting communities through such events by helping clients navigate the claims process and secure adequate protection.
“Insurance brokers are on the front line, ensuring Australians get the coverage they need at a fair price – now more than ever, their role is critical in navigating affordability challenges and assisting with risk mitigation,” Klipin said.
