The National Insurance Brokers Association will offer a “suite of support resources” to help members prepare for upcoming client consent reforms. 

The changes, which take effect on July 10, require brokers providing personal advice to obtain informed consent from retail clients before being paid commissions for product sales.  

The industry has raised concerns about the reforms, with some brokers warning they may stop offering personal advice on retail products.  

The association is holding a webinar series – In Practice: Informed Consent – featuring expert panels to explain the changes.

“Informed consent will require significant change in respect to broker workflows,” NIBA president Nick Cook said. “This means it will be critical for brokers to be well prepared to continue delivering trusted advice to their clients. NIBA will continue to work with the new government on how the informed consent regulations can be delivered in a simpler and more technology-led way.”  

Association CEO Richard Klipin says the series has attracted strong demand, highlighting the need for clarity on the issue.  

He will address the first webinar on May 26 from 3pm to 4pm. See registration information here.