Brokers should expect a more collaborative Biba under new chief executive Eric Galbraith.

He said that working in collaboration with the ABI, or other organisations such as the CII and FSA, would be a focus during his tenure. "When appropriate we would always look to collaborate."

Galbraith declined to speculate on how many brokers might remain in a post-regulation market, but said he was confident about their future.

"I'm very concerned about scaremongering about the reduction in the broker market," he said. "The broker market is very dynamic and I think it will respond well to all that is going on."

Galbraith said that providing practical assistance for Biba members, in the form of more training and more commercial facilities, would also be a priority.