NIBA is the peak body of the insurance broking profession in Australia and represents around 360 member firms and more than 2000 individual Qualified Practising Insurance Brokers (QPIBs) throughout Australia. In total NIBA represents an estimated 90% of all insurance brokers in Australia. Since 1982 NIBA has been a driving force for change in the Australian insurance broking industry. It has supported financial services reforms, encouraged higher educational standards for insurance brokers through NIBA and other education providers, and introduced a strong, independently administered and monitored Insurance Brokers Code of Practice for members. The member firms all hold an Australian financial services (AFS) licence, issued by the Australian Securities and Investments Commission (ASIC) under the Corporations Act, which enables them to deal in or advise on Risk Insurance products. NIBA members include large multinational insurance brokers, large Australian-owned insurance brokers, and more than 300 small to medium sized insurance broker businesses located in the cities, towns and regions across Australia.
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