The Association of Medical Insurance Intermediaries (AMII) is not currently financially viable and looking to change its constitution to bring providers into the membership, its chairman has said.
Wayne Pontin, chairman of AMII, told members at the trade body's Autumn conference, that the association was "fairly solvent" with £50,000 in the bank, but needed to raise the bar significantly to survive.
He said: "We want to be financially sound. We talked recently to Biba about turnover. Biba's turnover is more than substantial.
"It said that to be meaningful, if you do not have at least turnover of £200,000 then you are just playing at it. We do not have that.
"We do not want to be a begging bowl asking providers to buy stands at conferences.
"That to me is not a financial plan. With the economic situation as it is at the present time there are many squeezes. We have to raise sufficient funds to become financially sound."
Pontin said that being representative of the whole market and evolving from the current broker-only membership constitution would be a key strategy in his time as chairman.
"We need to spread our wings a little bit," he said.
"It still has the same constitution it had in 2009 so maybe we need to get a new consistution that will work better.
"The relationship with providers is getting better. We are nothing without being a collective."
AMII membership currently sits at 111 firms, and it has seen a 10% increase in membership since April.
