Association Monitor: LIIBA, CII, MGAA and ABI

A monthly round-up of updates from the major insurance industry trade associations and professional institutions. To feature in the Association Monitor, send your news to mark.dugdale@barkerbrooks.co.uk

The London & International Insurance Brokers Association (LIIBA) has formed a new committee to focus on operational claims issues and initiatives in the London market.

The claims operations liaison group will be chaired initially by John Muir, managing director of technical and operational practices at Willis Towers Watson.

Muir will hold the role in an interim capacity until a chair is formally nominated.

The new committee, which is open to all LIIBA member organisations, will report to the association’s operations committee. Members will be operational claims specialists and LIIBA staff.

Jackie Hobbs, associate director at LIIBA, commented: “The decision to create this committee is indicative of the focus we’re placing on claims currently. It’s a core element of the Future@Lloyd’s plans and also market modernisation generally.”

“The group will provide a platform for the Lloyd’s broking community to promote claims efficiency and service improvements. It will also provide claims expertise and advice to LIIBA’s board and other committees.”

The Chartered Insurance Institute (CII) has launched a new chartered title for managing general agents, with the support of the Managing General Agents’ Association (MGAA).

The chartered insurance underwriting agent title has been launched as part of the CII’s Royal Charter requirement to secure and justify the confidence of the public. The new title gives MGAs a professional pathway to chartered status.

The CII decided to launch the new title in recognition of MGAs’ growing market presence, which according to the MGAA, represents more than 10% of the general insurance market’s premium.

To gain the new chartered title, individuals must hold the advanced diploma in insurance, be a member of the CII, and have at least five years of sector experience.

Sian Fisher, chief executive officer of the CII, said: “We must ensure our professional standards pathways are modern and relevant for as wide a range of individuals and firms working in the insurance and personal finance profession today as possible.

“Managing general agents have quickly grown to be a significant and important part of the profession. MGAs are taking responsibility to deliver an outcome for the consumer. MGAs need the same knowledge, expertise and to demonstrate the same commitment to professional standards as other segments of the insurance profession.

“We worked with the Managing General Agents’ Association to develop a learning pathway that provides those working within that sector to gain and maintain the expertise needed to best serve consumers.”

Charles Manchester, chair of the MGAA, said: “The development of the MGA sector highlights the increasingly important role that it plays in the insurance market. But with this growth comes the need to ensure the highest levels of professionalism and technical competence delivered to carriers and brokers.

“We are delighted to support the launch of this new chartered title. The chartered insurance underwriting agent designation is an important step forward in the long-term success of MGAs and continuing relevance in the market. We call on all our members to consider investing in achieving the chartered title to demonstrate that their businesses are at the forefront of the profession.”

Commenting on last week’s decision to delay the launch of the new whiplash claims portal until August, James Dalton, director of general insurance policy at the Association of British Insurers, said: “The insurance industry has designed and delivered an online Portal that will allow people to make whiplash claims simply and effectively without the need for legal representation.”

“While it is disappointing that these vital reforms won’t now be introduced until August, the first priority has to be ensuring that the portal works well for consumers from day one.”

“We welcome the clarification from the government concerning vulnerable road users, children and protected parties and urge the Ministry of Justice to rapidly address the outstanding issues, especially publishing the rules that will give effect to the new system, as soon as possible.”

Mark Dugdale