Sunday, 21 September 2014
Given that British Insurance Brokers Assocation was founded in 1977, it is at least a little surprising that the organisation has not long ago established a code of conduct for its members to adhere to. And, stranger still - 47 years on - that BIBA should announce its intention to develop a code that members may sign-up to on a voluntary basis.
If there has been no overwhelming case for a code of conduct over the past 47 years and, finally, one is being pitched as an optional add-on, then what exactly is the point of it? Not so much of a code, therfore, more a set of guidlines. Captain Jack Sparrow would appreciate the distinction I am sure.
To be a member of BIBA is also to be regulated by the FCA and they’ve got rather a lot of codes to choose from, although choice is not an alternative left open in respect of any of them. TCF - Treating Customers Fairly, but not if you don’t quite fancy it. I don’t think so!
Then, of course, there’s Chartered Status from the CII, which deals with qualifications and competence to be sure, but also ethical standards and.. err… codes of conduct as well. So, one asks oneself yet again, with so many codes of conduct to cling to, how is it we need another one?