Benefits
What membership gives you
A voice on policy
When the Pensions and Insurance Authority consults on a rule or the Ministry of Finance drafts something that touches broking, IBAZ makes the sector's case. Members shape that position through the Executive Committee and technical sessions.
Professional development
Seminars, workshops, technical briefings and the annual conference. Sessions cover insurance law, market practice, regulatory change and the technical side of placing risk.
A listing in the public directory
Our Find a Broker directory is the page most non-industry visitors come to this site for. Members appear there with their contact details and specialisms.
Market and technical information
Regulatory updates, industry data and guidance circulated to members as it becomes available.
Access to the rest of the market
IBAZ events put member firms in the same room as insurers, reinsurers, the regulator and the other associations.
A recognised standard
Members operate under the IBAZ Code of Ethics. For a client choosing between brokers, that is a real signal.
Eligibility
Who can join
Your firm must be a licensed insurance or reinsurance broker. Before applying, check that you hold:
- A current broker's licence from the Pensions and Insurance Authority
- Certificate of Incorporation and Certificate of Share Capital, both certified
- A PACRA-stamped Companies Form 3, parts A to G
- Professional indemnity cover of at least K100,000
- Fidelity guarantee cover of at least K100,000
- A confirmed appointment of auditors
- A Power of Attorney in favour of your Principal Officer, issued by a legal practitioner
You will also need CVs for every director, shareholder and the Principal Officer, including for any corporate shareholder.
Applicant firms must meet the minimum requirements set out in the Insurance Act No. 38 of 2021.
Fees
What membership costs
A non-refundable application fee is payable when you submit. Annual subscription is set by premium income and is payable once the application is approved.
Fees are set by the Executive Committee and reviewed periodically. Confirm the current amounts with the Secretariat before you apply.
| Annual premium income | Annual subscription |
|---|---|
| K10,000,000 and below | K5,000 |
| K10,000,001 to K30,000,000 | K7,500 |
| Above K30,000,000 | K10,000 |
| Application fee (non-refundable, payable on submission) | K2,500 |
Paying the application fee does not make your firm a member and does not guarantee approval. The Executive Committee reviews every application.
Process
How to apply
Download the forms
Get the application form and the new member checklist.
Assemble your documents
Complete the form and gather every supporting document on the checklist.
Pay the application fee
Pay the non-refundable fee and keep the receipt.
Submit to the Secretariat
Deliver everything to Tazara House or send it by email.
Committee review
The Executive Committee reviews your application and the Secretariat contacts you about the outcome and your subscription.
Questions?
The Secretariat can talk you through the process before you apply.
Ready to apply?
Talk to the Secretariat about membership and we will send you the current forms and fee schedule.