At a glance
- Successful conclusion to another BIBA conference
- Regulation a key topic
- Event heads back to Manchester next year
Roll on Manchester 2014. After the successful conclusion to another BIBA exhibition, brokers and insurers alike departed from the vast surrounds of the ExCel convention centre in London with a host of new contacts and potential deals.
There were a lot of brokers around, a lot of people wanting to do deals and have conversations. It has been a really busy couple of days, but it has been good
Richard Coleman, Director of SME, Zurich
“BIBA has been brilliant,” said Richard Coleman, Director of SME at Zurich, who was also a speaker at a seminar at BIBA, on the changing risk profile of UK SMEs, on the first day of the two-day event.
“There were a lot of brokers around, a lot of people wanting to do deals and have conversations. It has been a really busy couple of days, but it has been good.”
BIBA returned to London after a two-year stint in Manchester, but the event is set to head back up to Manchester for 2014. And Richard, for one, cannot wait.
“Last year, Manchester was a really good event, but this year probably matches that,” said Richard, “And compared to the last time it was held in London, it has become a much bigger event, and it’s nice to have everyone close together for a good concentrated period.”
Aside from the buzz created from the array of stands in the main hall and the list of top-drawer speakers, which included the Financial Conduct Authority’s new chief executive Martin Wheatley, former Labour politician David Miliband and UK Olympic hero Sir Chris Hoy, there was also an element of fun with a gaggle of superheroes, witches and even delegates dressed in lederhosen at this year’s event, which ended on May 16.
Did you dare to take the chair?
Zurich’s stand had the ever-popular BrokerMind competition up and running, where brokers pitted their wits against each other by trying to correctly answer industry-related questions in a Mastermind format. The eagerly-awaited finals day is now set for October after fierce competition on the Zurich stand.
The seminars, meanwhile, generated much interest with brokers, with one topic — regulation — cropping up more than once.
“Compliance is extremely important, it underpins everything brokers do,” Steve White, BIBA’s new Chief Executive, told delegates at a seminar on regulation on the second day.
Regulatory topics discussed revolved around the powers of the new Financial Conduct Authority and product governance, conflicts of interest and client money, in particular unconditional risk transfer. Also discussed was the looming second coming of the Insurance Mediation Directive from Brussels and the likely implications of commission disclosure for brokers.
So BIBA has a lot to do this year, fighting its corner for brokers both in Brussels and London.
“[It is all about] achieving the right level of regulation to ensure we can meet the growth challenge,” Steve told the BIBA conference in his opening address.