The National Insurance Brokers Association (NIBA) has reported unprecedented engagement in its 2025 Broker Market Survey, with over 1,000 brokers participating in the annual industry assessment.
This level of involvement represents the highest response rate since the survey’s inception and underscores the sector’s ongoing commitment to contributing to industry development.
Conducted by NielsenIQ, the NIBA Broker Market Survey gathered data on broker perspectives regarding general insurers and their products.
The findings will be instrumental in determining the recipients of the 2025 NIBA Insurer Awards, which include Large General Insurer of the Year, Specialty Insurer of the Year, and Underwriting Agency of the Year.
The awards are scheduled to be presented at the NIBA Convention, taking place from Oct. 19 to 21 at the RACV Royal Pines on the Gold Coast.
NIBA chief executive officer Richard Klipin commented on the significance of the survey’s participation.
“To see more than 1,000 brokers have their say is an extremely pleasing result,” he said. “These record numbers show that our community is engaged, invested, and committed to shaping the future of insurance broking. Their insights help us benchmark industry excellence and ensure that broker voices inform the recognition of insurers who are leading the way in delivering value to clients.”
Angela Carter, director of brand and media at NielsenIQ, highlighted the survey’s growing influence.
“Each year, the NIBA Broker Market Survey provides independent, actionable feedback from brokers that helps insurers and underwriting agencies better understand the needs of the profession,” she said.
She added that the high level of participation this year demonstrates the importance brokers place on contributing to industry change.
Separately, NIBA has addressed the findings of the Insurance Brokers Code Compliance Committee’s (IBCCC) 2024 Annual Data Report, which tracked broker compliance with the Insurance Brokers Code of Practice.
The latest report showed a 19% increase in reported breaches compared to the previous year, particularly in the area of remuneration disclosure. This is the first year that brokers have reported a full 12 months of data under section 6.1 of the code.
The IBCCC attributed the rise in breach reporting to a more mature compliance culture within the sector.
However, the report also noted that 42% of brokers reported no breaches or complaints, a statistic that IBCCC chair Oscar Shub suggested may indicate potential gaps in internal monitoring rather than flawless compliance.
A significant proportion of breaches were related to client communications, specifically failures to notify clients at least 14 days prior to policy renewal.
The number of remuneration disclosure breaches increased from 42 in 2023 to 334 in 2024, which the IBCCC linked to increased awareness ahead of new informed consent requirements taking effect in July 2025.
