The establishment end promotion of the particular profession of insurance brokerage, meaning the intermediary work of a professional who operating independently from any insurer, and following the assignment of the insured, “brings the two parties together” taking care of all the necessary work for the completion of the insurance agreement, always representing the legal interest of the policy holder. Download our full statute
- The further improvement of the professional reputation and the final condescension of insurance brokerage in the Greek market.
- The contribution in the elevation of insurance awareness for the Greek businessmen and consumers in general.
- The contribution in the development and modernization of the Greek insurance market.
- The protection and promotion of the professional interests of his members.
HIBA promotes the profession of insurance brokerage on account of his members, and stimulates them towards the highest professionalism and differentiation against any illicit competitive practice, and orientates them towards the highest standards of organization, so they provide specialized and complete services to clients and intermediaries in the local and international insurance market.
Code of professional ethics
Insurance Brokers should provide the best possible service to clients, colleagues, Insurers and the society in general.
In particular for his clients, the insurance broker should:
- Provide sincere and objective advice, clarification on the rights, the obligations and the insurance premium, subject to the ultimate cost benefit analysis.
- Provide advice or information only when he holds the necessary experience and technical knowledge.
- Secure the quick and equitable compensation of the insured in any case of loss assessment.
- Acknowledge that the legal interests and the trust of his clients are more important than any of his personal objectives.
In particular for his colleagues, , the insurance broker should:
- Manage his professional activities in a respectable way according to the admissible practises and standards of healthy competition.
- Promote and provide his services in a way that secures his professional credibility, without exaggerating on the scope of his activity.
- Collaborate with his professional association, and strive for the protection of his profession.
- Seek for the advice and intermediation of his professional association, on any case of dispute with his colleagues.
In particular for the Insurers, The Insurance Broker should not transfer, primarily to his clients, information that is inaccurate or not thoroughly examined, regarding the well being and the activity of any Insurer.
In particular for the society, The Insurance Broker should secure any kind of confidential information out of publicity, and fully respect the professional discretion.
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.
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.
Board of Directors
The Hellenic Insurance Brokers Association (HIBA) is a Professional Union, operating according to Specific Articles of Association, seated in Athens, with individual and legal members licensed to practise Insurance Brokerage, according to Law 2170/33.
HIBA is administered by the General Assembly of members, and the Board of Directors, elected every two years. The BOD consists of the Chairman, the Vice chairman, the General Secretary, the Cashier, plus 5 regular and three supplementary members.
The BOD holds the responsibility for the administration and management decisions according to the scope of the association, with the exception of those issues that fall under the exclusive responsibility of the General Assembly.
The BOD establishes committees, responsible for the facilitation of particular projects, managed by the appointed members who work exclusively on these projects.
- Tzortzoris Michael, Chairman
- Alfieris Kostantinos, Vice Chairman
- Zafiriou George, General Secretary
- Drakou Vasiliki, Cashier
- Apostolopoulou Electra, Regular Member
- Chatzitheodosiou Anastasios, Regular Member
- Katsiberis Nikolaos, Regular Member
- Vitali Aliki, Regular Member
- Zikoulis Apostolos, Regular Member
Ex – Chairmen
- Ioannis Xirogiannopoulos
- Theodora-Ioanna Economopoulou
- George Karavias
- Lampros Kokkinos
- Simos Xirogiannopoulos
- Nikolaos Makropoulos
- Ioannis Makrimihalos
There are three categories of committees contributing to the operation of this association.
Constituted by three regular members, elected by the General Assembly every two years, with the scope of examining potential disciplinary offences.
Established whenever necessary for the examination and submission of syntax and/or modification proposals regarding the Articles of Association, the “Ethical Code”, financial elements, handbooks, documents, etc. The committee members are appointed by the BOD.
Established whenever necessary for the organization of conferences, events and other projects. The committee members are appointed by the BOD.