Tim Ryan, executive chairman of Ryan`s and a member of BIBA Main Board, said: “In order to increase productivity, we need to reduce friction costs for the business. It is a classic case to have dozens of trade agreements as slightly different as ever that require continuous review by lawyers and regulatory staff. I am determined to allow a complete welcome of this new model of BIBA. All clients – you should check all the details on any proposal form or statement of facts, and pay attention to every statement you might sign. It is important to read all the insurance documents you have issued and make sure you know the insurance coverage, limits and other conditions. Particular attention should be paid to all guarantees and conditions, as non-compliance with your policy could be cancelled or could mean that claims cannot be paid. This agreement is governed by the laws of England and Wales and is interpreted accordingly. Each party accepts that any legal action or proceedings concerning this agreement may be brought before the courts of England and submits to the jurisdiction of those courts. In response to member calls for help to increase efficiency and reduce friction costs, BIBA, in collaboration with many other industry players, has developed a voluntary TOBA model that is balanced for both brokers and insurers. Promoting broad acceptance of the new model will revolutionize the formal business conditions process in the general insurance market, reducing the burden on resources for reading, controlling and challenging TOBA content up to 80 hours. We are committed to complying with the General Data Protection Regulations (GDPR) in all our transactions with your personal data.