LIIBA publishes 2020 agenda, makes international opportunities a priority

London and International Insurance Brokers’ Association (LIIBA) has published its agenda for 2020, which reflects both ongoing and new priorities for the broker market.

Specific initiatives include working with HM Treasury to explore the opportunities for a regulatory approach that recognises the sophistication of London market customers; identifying opportunities to liberalise trade in services post-Brexit, working with Government and trade bodies to open up new markets for LIIBA members across the globe; and giving its members the tools they need to develop more inclusive and productive cultures in their firms through LIIBA’s training programme.

Other initiatives include contributing constructively to the global debate on digitalisation and the regulatory response to ensure that it recognises that it is existing participants that are driving innovation, and promoting the central role that insurance can play in addressing the climate crisis as part of EIOPA and OECD led debates on sustainable finance.

Christopher Croft, chief executive of LIIBA, said: “Our agenda looks to improve our marketplace for customers but, as importantly, to develop global opportunities for our members.
“To improve our external offering, we will be enthusiastic participants in the Future at Lloyd’s programme and maintain our constructive relationship with all regulators to manage the burden on members and ensure optimal customer outcomes. We will also do the work needed to ensure all this is delivered by an inclusive and diverse market.

“Looking to future trading relationships, we will continue to support members’ Brexit planning and seek to secure EU market access as part of any new Trade Deal. But we will also look to explore the global opportunities a new political landscape can provide.”

LIIBA also highlighted the successes from the 2019 agenda, including a clean bill of health for brokers from the FCA’s Wholesale Insurance Broker Market Study; securing an approach to EU market access for members with the publication of EIOPA’s recommendations around Brexit; and 80 percent of relevant market business being placed electronically as a foundation for digital trading.