Lloyd’s trade body Liiba will look to tackle three key priorities in 2018
The London and International Insurance Brokers’ Association (Liiba) has announced its key priorities for 2018.
Brexit dominates the agenda as a key priority, with market modernisation and the FCA Wholesale Insurance Broker Market Study also sharply in focus.
Liiba chief executive Christopher Croft commented: “Liiba’s mission is to ensure that London remains where the world wants to do business by improving its competitive position. 2018 is going to be a pivotal year for the insurance industry in many areas that are critical to that mission and we will be working closely with our members and Board to deliver on our priorities.”
Croft continued: “Much attention has focussed on the decisions of underwriting firms on how they will navigate a post-Brexit marketplace. However, the broking industry also faces major challenges and we are working closely with members to help them make the right contingency plan to protect the interests of their clients. For example, it is critical that we ensure that contracts where the period of insurance runs over the date when the UK leaves the EU remain serviceable.”
Croft concluded: “We are also determined to see PPL become the predominant distribution tool in the market by the start of 2019. PPL is all about improving our approach to placing and reducing our reliance on paper – allowing us to focus on the face to face negotiations for which this market is renowned. They are many myths about the threat of e-placement, so we will shine a light on the significant service improvements it will allow us to deliver to our clients and the very real cost savings that PPL will deliver across the value chain.”