FAIR Brokers & Consultants Society “FBCS”
FAIR Brokers & Consultants Society (FBCS) has been established, aiming at developing the profession and having a progressive and powerful arm to spur regional cooperation and to encourage business exchange among FAIR Members.
I. Objectives of FBCS
FBCS brings the brokers in the FAIR region into the mainstream of FAIR activities. FBCS represents the interests of insurance and reinsurance brokers.
Members of FBCS are advisors who pride themselves on the professional advice and range of products and services they offer, always focused on the insurers and customers’ needs and requirements. .
FBCS is set to become an important voice of the industry - advising members and the regulator, on key insurance and reinsurance issues. In addition, FBCS would assist to raise and maintain industry standards
The combined membership of FBCS is expected to handle a very significant share of the reinsurance business in the Afro Asian region
FBCS in tandem with FAIR has extensive reach in the Afro Asian region and valuable grass-roots knowledge (market information) of the insurance practice of every country in the region. This resource will be enhanced and made available to FBCS members in their practice to develop better business opportunities.
Accreditation by FAIR enhances the Afro Asian brokers reputation. Membership of FBCS enhances value in the eyes of the Insurer, and increases networking opportunities.
Preferential approach may be adopted to build up mutual strong business relationships within the FAIR domain. FBCS should also make efforts to discuss with the local Regulatory authorities the rating requirements so that the reinsurance security regulations framed encourage regional co-operation amongst FAIR members.