The trade body has made five of its employees redundant after initially increasing the number of people working within the business in recent years.
In a statement chief executive Steve White said BIBA had been impacted by the crisis "like many other businesses" in the UK.
Mr White said: "Over the last couple of years we had, in response to the needs of our members, increased the number of people working in the business and refocused some of our key activities.
"The pandemic has forced us to revisit this focus and we have had to make the difficult decision to part company with five BIBA employees whose roles have been affected."
The trade body boss said the decision had not been taken lightly and he was sorry to see his colleagues leave.
He added: "We remain committed to meeting our members’ needs in the changing face of the market in which we operate and to promoting the use of insurance brokers."
Earlier this month BIBA revealed it had launched an industry committee in a bid to help consumers access insurance, including in instances of medical conditions, disability and prevailing conditions.
The trade body said it saw an opportunity to "represent insurance as a force for good" by collaborating with the industry to help consumers.
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