Yutree MD Hancock to represent smaller brokers as new Biba advisory board chair

Yutree Insurance managing director Kevin Hancock has been appointed as chairman of Biba’s new smaller brokers’ advisory board representing members with annual turnover of less than £1m.

Mason Owen Financial Services managing director Andrew Gibbons has been named deputy chairman.

As chair of the new advisory board Hancock will also represent smaller brokers on Biba’s main board.

The formation of the new small broker board is the second of five new boards that will be set up following an overhaul of Biba’s governance structure, which members approved in October last year.

The change divides Biba members into four segments: small firms with a turnover of less than £1m; larger firms with a turnover of greater than £1m; networks, aggregators, MGAs and other distributors; and UK nationals, London market and international members.

Small businesses (firms with 10 employees or less) account for 85% of Biba’s membership.

This means that the smaller brokers’ advisory board is the only board that will have two people also also sitting on the main board.

Hancock was chairman of Biba’s General Insurance Brokers’ Committee (GIBC), a predecessor of the new advisory board.

He said:  “The GIBC played a key role in Biba’s governance and I was pleased to have a seat within that forum. 

“Following Biba’s strategic review, I am keen to continue to be involved with our trade association at a time when the association is playing an increasingly important role in advising members and working on their behalf with the regulators, consumer bodies and other stakeholders on key insurance issues.”

The first advisory board for larger brokers was announced earlier this month.

Bluefin executive director Stuart Reid has been named chairman of the new board representing larger brokers with annual turnover of more than £1m, while Oval chief executive Peter Blanc has been named deputy chairman.

Biba says three more advisory boards will be established in due course to reflect different but vitally important segments of its membership.

Other recommendations from the strategic review, which have recently been implemented, include the appointment of Lord Hunt of Wirral as Biba’s first independent non-executive director to the board. Lord Hunt became the new Biba chairman in January.

Chief executive Steve White said today: “We have had a fantastic response from members wanting to be involved in Biba’s new governance structure, many of whom have not held formal roles within the association before.

“The launch of the smaller brokers’ advisory board is an important step in delivering the recommendations of our strategic review and we will continue to drive forward the development of our new structure.”

“Smaller brokers can rest assured that they will have a strong voice speaking up for them on the issues affecting their business that will be heard where it counts.”