The British Insurance Brokers’ Association (BIBA) has introduced its 2025 manifesto, addressing challenges faced by brokers and their clients.
The manifesto, titled “Partnering to Deliver Value”, emphasises the role of insurance brokers in providing value and supporting resilience. It also outlines how brokers help drive growth through risk management, investment and access to insurance, enabling businesses and consumers to prosper.
BIBA has included a six-point plan in the manifesto aimed at creating a more proportionate regulatory environment. Key recommendations include:
The manifesto also includes a wide range of issues and commitments raised by BIBA members. Topics addressed include ongoing concerns such as flood and cyber insurance, skills shortages, access to insurance and capacity challenges. It also tackles new issues, including differential pricing, insurance payments under the Leasehold and Freehold Reform Act, participation in the Motor Insurance Taskforce and premium finance.
Commenting on the manifesto, Graeme Trudgill, BIBA’s chief executive, said that partnerships within and outside the insurance industry are key to the manifesto and in helping achieve improved outcomes on the issues that have been raised.
“We know that our issues and the importance of insurance brokers have been recognised by Government with financial services being one of the eight priorities in its new industry strategy,” said Graeme Trudgill, BIBA’s chief executive. “We have enjoyed an extensive collaborative approach with the regulator during the last year and there is an opportunity to achieve positive outcomes.”
Meanwhile, Emma Reynolds MP, economic secretary to the treasury, acknowledged the sector’s importance to the UK economy.
“I look forward to working with BIBA, its members, and the entire broking sector, to support a thriving and competitive insurance market across the UK that delivers for both businesses and consumers,” she commented.
The manifesto was launched in the Houses of Parliament by Trudgill and BIBA chair Jonathan Evans, who highlighted achievements from the 2024 Manifesto, including changes to the personal injury discount rate, the launch of a fire safety reinsurance facility, the introduction of the BIBA Talent Toolkit and improved relations with the regulator.
Look out later today for Graeme Trudgill’s latest Insurance Business column, discussing the Manifesto in detail.