Insurance Brokers Council

 What is the IBC ?

The IBC is a professional organisation, established in 1979, representing independent life and short term insurance brokers and their clients.


The IBC represents its members and their clients at the Financial Services Board, the Life Offices Association and the Registrar of Insurance and is member to a number of local and international insurance broker associations including being a founder member the Financial Intermediaries Federation of South Africa (FIFSA) and of the Council of International Insurance Broker Associations (CIIBA)


To qualify Members of the IBC have to meet high standards in terms of experience and training and on becoming members are subject to a code of ethics.
The insurance buying public can therefor, when dealing with a member of the IBC be assured of the highest standards of professionalism and integrity.

 

Code of Ethics

  1. Members undertake to conduct all their business with the utmost good faith and integrity.

  2. Members shall always place the interests of clients before self-interests or any other consideration.

  3. Members shall always treat all information acquired from clients as strictly confidential.

  4. Members shall in all instances furnish underwriters with full and true information in order to facilitate true underwriting.

  5. Members shall always take care to render services and advice only when adequately trained, informed and knowledgeable to do so.

  6. Members shall always consider and respect the integrity and reputation of others.

  7. Members undertake to comply with the provisions of the IBC Constitution as well as the Insurance Act.