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The objects of the Association shall be as follows.

  • To provide a central organization for Insurance Brokers and generallly to do all such things as from time to time may be considered or calculated to elevate their status and safeguard and advance their interests and procure their general efficiency and proper professional conduct with a view to ensuring for the community the existence of a class of Insurance intermediaries who can be relied upon as being trustworthy and duly qualified to perform their duties with due responsibility.
  • To encourage the training and education of persons practicing or intending to practice insurance broking in the Sri Lanka.
  • To determine the qualifications of insurance intermediaries for admission as members of the Association.
  • To co-operate with or become members of other professional bodies or associations having similar objectives to those of the Association.
  • To keep under surveillance any legislation affecting the Insurance Industry in general and Insurance Brokers in particular, and to promote, support and assist in any lawful manner the implementation of legislation having the Association’s common good or that of such Brokers and the general public and generally to promote and safeguard the common interests of the members of the Association and the general public.
  • To arbitrate in any dispute between Members relating to the practice of insurance brokering where it is deemed to be in the best interest of the Association or the industry to resolve such dispute.
  • To propose, establish, implement and enforce any rules, regulations, bye-laws, professional standards and such codes of conduct for the promotion and safeguard of the interests of the Insurance Industry and that of the Insurance Brokers.
  • To take action against any member for professional misconduct or failure to meet ethical requirements, or for contravention of any provision, rules or regulation of the Association or commits any act which will bring the Association into disrepute.
  • To receive and hear complaints, disputes and claims made in relation to Members of the Association, to set up or form such committees or bodies that may be appropriate to whom reference may be made of such complaints, disputes and claims and to facilitate the settling of such complaints, disputes and claims by such means as shall be deemed expedient by the Council.
  • To do all such lawful things as are incidental to or necessary for the achievement of the above objectives or any of them.