What is the main function of BIBA?

BIBA, the British Insurance Brokers' Association, primarily serves to represent and promote the interests of its members, which consist of insurance brokers and intermediaries in the UK. This advocacy role involves engaging with regulators, government entities, and other stakeholders to ensure that the concerns and needs of its members are addressed in policy-making and industry practices. By focusing on the interests of its members, BIBA works to enhance their professional standing and influence within the insurance market, ultimately contributing to the effectiveness and integrity of the insurance broking profession.

While the other options may relate to various functions within the insurance industry, they do not encapsulate the core mission of BIBA as effectively as the selected answer. For instance, conducting professional examinations concerns certification and competency, independent claims settlement pertains to dispute resolution, and agreeing on standard policy wordings involves standardization efforts, none of which directly reflect BIBA’s central purpose of representation and advocacy for its members.