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History

The “Hellenic Insurance Broker Association” was founded in 1988 with first objective the institutional consolidation of the profession of insurance brokerage, according to the initial law 1569/85 (modified since then from laws 1867/89, 2170/93, 2496/97).

The profession of insurance brokerage is respectable in most developed countries being interwoven with the long history of private insurance. The first historical report in this particular profession comes from 1771 when the Insurance Brokers along with the Underwriters contributed to the organization of the “Lloyd's” market in London. The first American Brokerage companies were established during the 19th century and the first professional unions were created at the beginning of the 20th century.

Today, Insurance Brokers are considered to be the most specialized companies in Corporate Risk Management, and have consolidated their presence worldwide. Their operation is strictly monitored from supervisory authorities on the benefit of all institutions, companies and individuals who receive brokerage service.

HIBA Historical Background

Founded in 1988, HIBA has participated in many events and activities, and has tried to influence the configuration of modern rules in the Greek market, according to the international standards. It has issued a “Code of Professional Ethics”, formed the necessary professional documents (Broking Slip, Cover Note, etc), and set a model of agreement to facilitate the collaboration with the local insurers, on account of its members.

Meanwhile, it has successfully organized conferences, events and meetings in Athens and Thessaloniki, with the presence of distinctive individuals from politics, enterprises, the Greek and international insurance market. Finally the managers of HIBA members have contributed to the insurance knowledge with many articles and publications in the local press.

1988 HIBA foundation. The first Board of Directors was composed by the following founding members: Ioannis Makrimichalos (Chairman), Georgios Koumbas (Vice-Chairman), Theofanis Papanikitas (General Secretary), Anastasios Chatzopoulos (Cashier), Ioannis Kavalaris, Georgios Karavias, Panagiotis Lyssaios, Angeliki Daliani, Simos Xyrogiannopoulos, Konstantinos Papadakis,Vasilios Chardalias.
1992 HIBA became member of Bureau International des Producteurs d' Assurances and de Reassurances (BIPAR). Moreover, its 1st international conference was accomplished with the presence of the Lloyd’s Chairman Mr. D.Coleridge. The conference topic was “The Insurance Broker in the European Community, challenges and prospects”.
1995 The 2nd international conference was accomplished with the presence of the BIPAR Chairman Mr. T.Brittan, under the topic “Insurance and the variable risk parameters”.
1998 The 3rd international conference was accomplished on the anniversary of ten years, under the topic “The effects of globalisation on local insurance markets” with the presence of the Lloyd’s Chairman Mr. M.Taylor.
2001 The publication and circulation of the HIBA magazine “Broker's Time” began aiming at the improvement of the local market awareness regarding the profession of insurance brokerage.
2003 The General Assembly of HIBA approved the new Articles of Association, adjusted to the EU directives since 2005, and conformed to the contemporary needs of Insurance Brokers.
2012 Carry out a welcome dinner reception in honor of foreign reinsurers and insurers who came to Greece to participate in the 14th International Congress of Reinsurance Association of Insurance Companies Greece, Hydra. The event took place at Dionysus, involving more than 300 strains of Greek and European insurance community

Today, HIBA is successfully established in the Greek insurance market, and participates in several technical committees and other significant business associations, locally and internationally, contributing to the professional development of its members.

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