The British Insurance Brokers’ Association’s (BIBA) has formed a “multi-sector” Access to Insurance Committee.
The panel has been assembled in order to help BIBA meet its 2020 manifesto commitment on improving access.
It follows intervention from the Financial Conduct Authority on travel insurance and the Cabinet Office on protection insurance.
BIBA Access to Insurance Committee
The committee will provide operational oversight of:
* The Protection Agreement (launched in January 2020)
* The signposting services provided under the separate Government/ABI/BIBA Agreement on Age and Insurance (launched in 2012 and recently extended)
* The forthcoming travel insurance directory provided by BIBA for those with pre-existing medical conditions seeking travel insurance.
It will also evaluate and review performance of the agreements and processes and also take opportunities to promote signposting awareness and participation across the financial services and charity sectors.
A spokesman for BIBA said the trade body has championed access, and in particular, “signposting”, since 2012.
“Signposting” is the means by which a firm directs a customer whom they are unable to provide insurance for help or who is outside of their risk appetite to a firm they know can assist or to a recognised signposting service such as BIBA.
The BIBA spokesman said that the trade body is working with the FCA to improve access to travel insurance for people with medical conditions and with the Industry Disability Champion, Johnny Timpson, to help drive better access to protection covers.
The “diverse” group that has gathered in the Access to Insurance Committee will be chaired by Caroline Barr, formerly a member of the Financial Services Consumer Panel, the independent statutory body set up to represent the interests of consumers.
The AIC also includes BIBA Executive Director Graeme Trudgill, Johnny Timpson and representatives from insurers, brokers, charities, and other stakeholders.
Trudgill said that the signposting work led by Johnny Timpson has been “highly productive”.
The BIBA Access to Insurance Committee
Caroline Barr: Chair (pictured)
Tom Baigrie, Lifesearch
Craig Brown, Legal & General
Kirsty Fell, BIBA
Teresa Fritz, Money & Pension Service
Shayne Halfpenny-Ray, Chartered Insurance Institute
Peter Hamilton, Zurich Insurance
Matthew Hartigan Higos Insurance Services
Kathryn Knowles, Cura Financial Services
Leonora Miles, Macmillan Cancer Support
Katharine Moxham, Group Risk Development (GRiD)
Garry Nelson, AllClear
Johnny Timpson, Scottish Widows
Graeme Trudgill, BIBA
He said: “As its work completed, we agreed we should harness the determination and ambition of the group to drive forward wider access to insurance.
“BIBA was delighted to be able to facilitate this.”
The main aim of the AIC is to help consumers access different types of insurance where they face challenges due to age, medical conditions or disability or because of prevailing conditions.