An insurance broker can save you time, money and worry. Whether it's home, car, life or business insurance, brokers provide advice and assistance to make sure your properly protected.

Don't go broke. Every business needs an insurance broker.

Consumer protection

Under the legislation governing the conduct of insurance brokers, they are required to act in your interests. The broker acts on behalf of the insurance buyer, not an insurance company. In circumstances where they may be acting on behalf of the insurer, the broker must inform you of that fact.

Because insurance involves substantial sums of money, as with other professional and financial services, there are other measures in place to ensure consumers are protected.

Membership of NIBA is one assurance that your broker is committed to quality and service. Senior staff members of any brokerage must be Qualified Practising Insurance Brokers (QPIBs) and undertake continuing professional development.

All brokers must adhere to the Financial Services Reform Act and the NIBA Code of Conduct, as well as the workings of Insurance Brokers Disputes Limited, which resolves problems between consumers and brokers in regards to domestic and life insurance policy matters up to $50,000 or $5000 for business policies.

If you have an complaint regarding an insurance broker, you can email Insurance Brokers Disputes Limited info@ibdltd.com.au or call its Compliance Manager on 1300 78 78 08 or visit www.ibdltd.com.au.