Representation

the driver, the higher risk they are for motor accidents, which relates to higher excesses and premiums. Women make up 54.3% of the insurance services industry. Sustainability practices build your business reputation and internal and external relationships. and internal and external relationships. Installing musical keys on a staircase led to 66% more people using the stairs instead of an escalator. By focusing on one task summed up in one sentence, it’s can minimize or prevent external fire spread. Fire ratings can be compromised by rusted and degraded concrete. Research shows that when more likely to return to work. Feedback with intent safety culture aligns people with systems and their environment. 230 Australians have been killed on quad bikes in the last 20 years. You can or GIF can relieve some tension in messages. So relying on words to understand your meaning. Research shows that when 7 times more likely to return to work. Fitting rollover protections is key to reducing the number of vehicle fatalities on farms every year. When you give feedback, A bold ad can help your personal brand stand out on social media. attract new customers, retain employees and aligns values. Common workplace injuries include body stressing such as musculoskeletal disorders, falls, and stay in touch with your injured workers, they are 7 times more likely to return to work. The recipient isn’t justQueensland reinsurance pool. NIBA will continue to engage with both Treasury and the Australian Reinsurance Pool Corporation (ARPC) to ensure that the pool can provide real benefits to the North Queensland market.

To support this NIBA also provided a response to the Treasury’s discussion paper on the proposed reinsurance pool. In the submission NIBA raised a number of concerns including that projected savings to homeowners would likely not be enough to address the significant disparity in premiums and would do little to increase affordability. NIBA also called for the design process to focus on increasing insurer activity in the region to promote competition and innovation.

Royal Commission Legislation

NIBA continues to engage with ASIC and Treasury on a number of Royal

54.3% of the insurance services industry. Sustainability practices build your business reputation and internal and WE ARE summed up in one sentence, it’s

YOUR VOICE!

There is a lot happening at the present time. The following are a few key developments degraded concrete. Research shows that when that insurance brokers need to be aware of. more likely to return to work. Feedback with intent ICA Trowbridge report Last month the NIBA Board of Directors or GIF can relieve some tension in messages. So met with John Trowbridge to discuss the independent review currently being undertaken into the commercial insurance relying on words to understand your meaning. Research shows that when market. The Board raised a number of issues, many of which had also been highlighted as part of the consultation process, 7 times more likely to return to work. Fitting rollover protections is key to reducing the including the need for greater engagement between brokers and underwriters. number of vehicle fatalities on farms every year. When you give feedback,

Directors pointed to a number of industries where brokers routinely face difficulties finding cover for their clients despite good A bold ad can help your personal brand stand out on social media. claims history and risk management. A number of these industries are also required attract new customers, retain employees and aligns values. Common workplace injuries include body stressing such as musculoskeletal disorders, falls, to hold certain types of cover in order to continue to trade, which Directors said, were almost impossible to obtain. Commission reforms, including lack of independence disclosure, add-on insurance and stay in touch with your injured workers, they are 7 times more likely to return to work. The recipient isn’t just

NIBA also provided a submission to the exemptions, anti-hawking and Design and review’s consultation paper on commercial Distribution Obligations for brokers. NIBA insurance. NIBA’s submission highlighted has provided member guidance on a number these issues and called for insurers to work of royal commission reforms scheduled with these hard-to-place industries to find to commence later this year, with more solutions to address both affordability and guidance expected to be released shortly, availability concerns. pending the outcome of these discussions.

Emergency Services Funding in The Role and Value of NSW & TAS Insurance Brokers

NIBA continues to encourage all brokers with NIBA continues to meet with State clients in New South Wales and Tasmania to and Federal MPs, Ministers and visit the Emergency Services Funding Hub on business and consumer groups to the NIBA website (niba.com.au/insurance- promote the Deloitte report on the affordability). NIBA has prepared materials for Economic Value of Insurance Broking both NSW and Tasmanian members to provide and the Value of Brokers more broadly to clients, including a template letter that ahead of the 2022 review into the brokers and clients can send to their local intermediated insurance industry. MP, calling for the abolition of insurance-based taxes and a more equitable system for the funding of state fire and emergency services. CONTACT NIBA

North Queensland Reinsurance Pool

Last month NIBA met with members of the Treasury’s taskforce to discuss the North As always, brokers who have questions about these or any other government or regulatory matters should feel free to contact NIBA CEO Dallas Booth at: dbooth@niba.com.au

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