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.