Healthy competition

Far from waning, the entrepreneurial spirit of broking is as crucial as ever, given the regulatory and market challenges facing the sector. Steve Wellard outlines why continued professional development is far from being regulatory chore but, instead, naturally complements forward-thinking professional business development

Insurance brokers have been written off ever since Peter Wood had the bright idea of selling motor insurance direct to the public in the early 1980s. But, over the past 20 or so years, brokers have shown great resilience and adaptability. The number of high-street personal lines outlets may have reduced, but the commercial broking sector is as strong as ever. That said, there is little room for complacency as many pressures and challenges remain, not least the arrival of statutory regulation at