Membership

Why join the FIA?

Intermediaries who are members of the FIA stand to benefit from the association’s:

  • Commitment to improving and promoting the image and standing of the intermediary industry;
  • Representation of intermediaries’ interests with regard to existing and future legislation that may impact members’ businesses;
  • Protection of financial services intermediaries’ integrity and taking the necessary steps, including disciplinary action, against defaulting members;
  • Relationships with other national and international bodies or organisations that have similar objectives such as LIMRA and IQA;
  • Networking opportunities at a local and national level;
  • Facilitation of training for members;
  • Provision of information to members which can assist them in their profession;
  • Interpretation of relevant information and influencing on the regulatory process;
  • Opportunity for members to gain management experience;
  • Provision of comprehensive compliance assistance and guidelines;
  • Objective assessment of insurance products and services.

Other member benefits

In addition, the FIA provides members with the following benefits:

  • Comprehensive group life cover;
  • Income protection cover;
  • Professional indemnity insurance scheme
  • FIA Watchdog
  • The FIA is a founding member of the World Federation of Insurance Intermediaries (WFII).  These affiliations enable the FIA to influence international developments and provide members with information on the latest global developments within the intermediary segment of the insurance industry. The FIA’s association with the WFII helps benchmark local practices against global standards and provides guidance for policy development.

FIA membership

Will be in the FSP’s name and all Key Individuals (K/I) and Representatives (Reps) registered under that FSP will be members. The only exception is where a person (registered at the FSB) is an agent of a product supplier.  In this case the membership will be in the person’s name.

Full details of the main contact person of the FSP must be provided in the application format and the contact details of all the other K/I and Reps will be requested on an annual basis. The additional information asked for is important to run the association successfully and therefore compulsory.

Business entities with their own FSP numbers, even when part of a larger Group, will each be separate FIA members.

In terms of the FAIS Act, all members of the FIA must adhere to the requirements prescribed by the Act and its regulations.

FIA members are also obliged to conduct their business in terms of the FIA’s Code of Conduct. This ethical code strives to ensure that intermediaries maintain a professional relationship with their clients, one another, regulators and product suppliers.

Click here for the application form