NIBA CEO Welcome

from Insurance Adviser December 2021/January 2022

Why be a NIBA member?

IT’S BEGINNING TO LOOK A LOT LIKE CHRISTMAS

As we career headlong into Christmas, there is an air of familiarity, positivity, and at the same time apprehension. Seeing shopping centres return to a sense of pre-Christmas activity, not seen for a couple of years, is an invigorating and positive sight. Shopping trolleys are full of new Christmas trees and decorations. Tourist destinations are fully booked. It feels like things are getting back to what we might consider ‘normal’.

However, like the past few years, uncertainty remains supreme, and just when you think we may be out of the woods, the Omicron COVID–19 variant arrives. It’s a reminder that we will be living with some type of Coronavirus for a long time to come. Therefore, it is so important we equip ourselves with the tools to stay safe and be successful. Knowledge is another form of the vaccine to protect us against the unexpected.

The 2021.2 NIBA Convention, Professionalism + Resilience = Opportunity, will see us come together in a COVID-19 safe environment to equip you with your dose of knowledge. Live events are being conducted in all major states, with 11 CPD points available when adding live and virtual sessions. We have a host of speakers, and you can find more information on page 22. We will also be looking at the current state of the insurance world in the context of those events impacting us at present and into the future.

Christmas also means storm season, and with another La Nina having been declared, we’ve already received a deluge of rain in the eastern states. As such, brokers will be vigilant and as always, on hand to help their clients if the need arises. We will be having an in-depth look at the impact of storms, floods, and fires and the related insurances, as well as trends on major risks from an insurance perspective on day four of the 2021.2 NIBA Convention in Queensland on 16 February.

Talking to many brokers, its quite clear that the new ‘norm’ of what the office looks like, is still evolving. In Sydney, the latest reports are that the CBD is currently at 8% occupancy, which suggests we are a long way away from returning full time to the office. Many employers are remaining flexible and waiting for the new year to reshape what return to work policies look like. We will be exploring the latest in HR issues and return to work practices on day two of the 2021.2 NIBA Convention in Melbourne on Tuesday 8 February. We will also be covering the latest developments from AFCA, ASIC, and the IBCCC in Melbourne, and will also look at the latest about Business Interruption, and the impact of the test cases on day three on Monday 14 February in Perth.

The value of brokers is well illustrated in the Deloitte Access Economics – The Economic Value of Insurance Broking Report. However, it is clear that we can do more to educate important stakeholders on what brokers do. This is why we have asked NIBA members if they have a relationship with their local Federal MP or Senator. Alternatively, if they would like to introduce themselves and their business to their local member, we have provided a Member Advocacy Guide and the necessary supporting tools. One of NIBA’s strategic objectives is to be a ‘trusted partner’, so brokers having these relationships is an important component in fulfilling this objective.

Our recent meeting with the Assistant Treasurer, The Hon Michael Sukkar MP, was another important part in that process, as we continue our efforts to build relationships and ensure we are fully engaged with all key parties in preparation for the 2022 Remuneration Review.

We will bring you the latest progress on the 2022 Remuneration Review at the 2021.2 NIBA Convention in Adelaide on Monday 7 February. We will also examine the issues around availability and affordability of insurance.

The debate around personal advice and general advice remains, and we will examine the future of advice on day five of the 2021.2 NIBA Convention in Sydney on Monday 21 February. I know everyone will be looking forward to celebrating at the Gala Dinner later that evening.

Code of Practice

We have taken the feedback from our first draft of the updated Code of Practice and have released a new version for further consultation. The final version is expected to be ready for the 2021.2 NIBA Convention in February.

As this year comes to a close, I would like to thank all the NIBA Committee members and volunteers across the country. Scheduling events has been difficult, anad we appreciate everyone’s patience, understanding, and unwavering commitment.

No matter what circumstances evolve in the coming months, nothing will change the fact that Christmas is a time to share, be with loved ones, be grateful for what we have, and have some time to recharge after a tumultuous couple of years. From everyone at NIBA, Merry Christmas.