Code of Conduct

  1. Members shall at all times, and in relation to all other parties, conduct their business activities with the utmost good faith and integrity.{break}
  2. Members shall place the interests of their clients before any other consideration, including the broker’s own remuneration.
  3. Members shall offer advice and services only in areas where they are proficient to render such advice and services.
  4. Members undertake to avoid any malicious act or statement which may be damaging to the reputation and integrity of broking competitors or other members of the insurance market, either individually or as a whole.
  5. Members are obliged to comply with the prevailing Insurance Act or Law, Regulations or industry agreements and guidelines relating to insurance brokers. 
  6. No short-term or long term contracts of insurance will be negotiated free of commission. 
  7. Statements made by or on behalf of members, whether in advertisements or otherwise, must be factual and must not contain misleading or extravagant claims. 
  8. Any information acquired by a member from his client will not be used or disclosed except in the course of negotiating, maintaining, renewing or servicing a contract of insurance for that client with the insurer, unless the consent of the client has been obtained. 
  9. All facts reasonably material to the risk at inception, or renewal, are to be disclosed to insurers by members, who may not withhold from insurers any information which might influence insurers’ decisions regarding the underwriting of the risk to which the information relates. Members will not deliberately, directly, indirectly or by implication, make any false or misleading statements to underwriters or their clients.
  10. No cover may be granted by a member, other than in terms of a binding authority, unless the insurer has been notified, and has accepted the risk. 
  11. No credit or credit terms may be granted by any member to an insured without the authority of the Insurer.
  12. Members will not accept clients who have refused to settle their indebtedness incurred under a previous broker.
  13. Members shall not disclose one insurer’s quotation to another insurer, other than a following insurer on the same risk, with the exception of long-term published rates. 
  14. Members shall not use the guise of insurance audit to discredit other competitors.
  15. Members shall not offer bribes or percentages of commission earned as inducement packages to induce clients or their agents to shift business from a competitor to themselves.
  16. Members shall not approach short-term insurers for quotations or other underwriting information unless they hold a letter of appointment, or have obtained authorization from the insured. 
  17. Premium terms quoted by members to clients must be backed by the insurance company’s quotations. 
  18. GIBA meetings shall be compulsory for all members and members shall not absent themselves from Association meetings. Such meetings shall be attended by only Principal Officers.
  19. Members shall settle their annual subscription to GIBA by the end of the first quarter of every year.

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  • History

  • History of Insurance In Ghana
  • The year 1965 could be marked as the birth year of Insurance Brokerage in Ghana...
  • Messages

  • President's Message
  • The Ghana Insurance Brokers Association has made it clear that it wishes to inject fresh dynamism into its operations to promote and raise the image of Insurance Brokers.
  • Membership

  • Membership
  • Membership of GIBA is open to bodies Corporate and not individual members.
    All newly licensed Insurance Brokers are directed by the NIC to join GIBA.
  • News

  • GIBA Launches Website
  • GIBA has launched it new website to help improve it image and enhance communication