On 21 March 2018, the British Insurance Brokers' Association (BIBA) announced that it has reached an agreement with the Worldwide Broker Network (WBN) which will facilitate the introduction of BIBA member firms to WBN member firms based in the EU in order to enable them to continue to work with EU based clients. BIBA launched the arrangement to its members on 21 March 2018.
BIBA surveyed its members in 2017 to ask what concerns they had about the UK’s impending exit from the EU. It says that one of the most common and worrying was the issue around continuing to help EU clients with renewals, claims handling and placement post Brexit. As soon as BIBA had the results of the survey it began looking for a solution and says that working with WBN was the obvious choice. WBN has at least one member operating in each EU country all of whom are subject to checks on their regulatory status.