Biba chief responds to formation of breakaway broker body.
Writing in Insurance Times this week following the formation of a breakaway association for London market brokers, Galbraith insisted it was “business as usual” for Biba.
Galbraith was responding to the creation of the London International Insurance and Reinsurance Brokers’ Association (Liiba) by the members of the London Market Brokers Committee (LMBC), part of Biba.
Jonathan Palmer-Brown of Aon, chairman of the LMBC, said the new body was required because London market brokers had different interests and requirements from most Biba members.
Marsh has denied reports that it has decided to leave Biba in favour of Liiba. A spokesman insisted that no decision had been made.
Palmer-Brown said he hoped to work closely with Biba where possible, but added: “The key issue is the differences between our different communities. Eric Galbraith may or may not accept that, but the reality is smaller regional brokers in the towns and cities throughout the UK have little in common with London market insurance and reinsurance brokers.”
Palmer-Brown said Liiba had had a good response from London market brokers so far and he expected every Lloyd’s broker to sign up.