Anticipated Release of LIIBA's Commercial Broking Analysis
The London and International Insurance Brokers' Association (LIIBA) recently held its annual general meeting, where significant changes and new initiatives were announced.
Nick Cook, the CEO of BMS Group, was elected as a deputy chairman of LIIBA, effective immediately. He takes over from Barnaby Rugge-Price, who stepped down in 2018. The announcement was made during the same meeting where LIIBA published its annual report.
One of the most exciting new initiatives is the Brokers Matter project, which is part of LIIBA's 2025 agenda. This groundbreaking project aims to quantify the monetary value of London's brokers to the global economy. The Brokers Matter project involves commissioning research to calculate the financial contribution that wholesale broking makes.
LIIBA has also published an agenda for 2025, which includes the Brokers Matter project. The agenda is not limited to this project, however, as LIIBA is also focusing on other innovative initiatives, such as the Innovation Imperative.
The Innovation Imperative is a new project by LIIBA, and its policy paper, titled "Why brokers matter more than ever", is available on theinsurindex.com. This project is associated with the London Matters initiative, which emphasises the importance of innovation in the insurance industry.
In addition to these new initiatives, LIIBA has also published a policy paper titled "Our Role in Net Zero". This policy paper asserts that London's specialist brokers, working closely with insurers, possess unique capabilities to contribute significantly to the transition to a Net Zero economy. The policy paper argues that London's insurance brokers have a crucial role in helping the world transition to a Net Zero economy by 2050.
While Nick Cook was elected as deputy chairman in 2021, he was succeeded in this role in 2021, but the name of the person who replaced him is not currently available.
In conclusion, the insurance industry in London is taking a step forward with new leadership and innovative projects. The Brokers Matter project and the Innovation Imperative are just a few examples of the initiatives that LIIBA is pursuing to drive growth and innovation in the industry. The policy paper "Our Role in Net Zero" also highlights the crucial role that London's insurance brokers can play in helping the world transition to a Net Zero economy.
