CIB Status

Chartered Insurance Broker (CIB) is intended only for Individual Members of IBANZ who are experienced brokers, however they do not have the NZ Certificate Financial Services (Level 5) qualification and therefore do not provide regulated financial advice to **Retail Clients.

The challenges insurance brokers face in our profession requires the continual raising of standards relating to, knowledge, capability and ethical practice. CIB status demonstrates and reinforces your professionalism to *Wholesale Clients, colleagues and competitors.

CIB Professional Status is a respected symbol of experience, professionalism and leadership. Please see below for the criteria to become a Chartered Insurance Broker:

*Wholesale Clients are those clients with net assets greater than $5m or consolidated revenue greater than $5m.    **Retail Clients are all other clients.

Criteria for CIB Status

1. Membership 

•  must be an Individual Member of IBANZ Inc for at least two years immediately prior to application; and

2. Experience 

•  10 years of continuous broking experience; and

3. Evidence of Continuing Professional Development 

•  plan and complete a minimum of 15 IBANZ rated CPD hours annually, of which 1 CPD hour must be from the available IBANZ Conduct & Ethics CPD topics on our website; and

4. Leadership activities 

•  contribution through insurance related education, mentoring, publications, presentations, technical work or research and similar activities.

For further details about the criteria or for a specific CIB Application form contact us or email IBANZ and we will assist you.

Retention of CIB Status

To retain CIB Professional Status Members must be able to evidence they have met the CPD requirement each calendar year (1st January to 31st December).

If a Member does not achieve the CPD required in a year their status lapses and they must cease using the CIB post-nominal.