Biba strikes Toba template agreement
The Association of British Insurers (Biba) has agreed "a template" for terms of business agreements (Tobas) between brokers and insurers.
The trade body claimed that the deal, approved with the Association of British Insurers (ABI), would make it easier to introduce agreements between the two parties.
Biba said that a generic format can now be used by ABI members when issuing amended Tobas to their broker partners.
Biba head of technical services, Steve Foulsham, said: "This template can provide a common layout to these arrangements, which will make for easier navigation by brokers - particularly when they are faced with 30 or so
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