One the major challenges facing broker firms is the volume of regulation in the Insurance Sector and ensuring that the firm and its staff members are compliant with the relevant areas off legislation – the Consumer Protection Code, Minimum Competency Code, Fitness and Probity, Data Protection Legislation, Employment law to name just a few.
IBA offers a significant support system and expert guidance to members in relation to CSI that an only be truly appreciated when you join and have access.
In small to medium (SME) firms that may not have a dedicated compliance person at their disposable this is a significant task. The good news is that you are not alone as you’re Association is here to help. Historically the Association have always dealt with compliance queries from members but since January 2012 the Irish Brokers Association have provided the IBA CSI (compliance support initiative) function which is dedicated to supporting member firms and their staff with all compliance related queries.