AR Fee for Service Model

AR Fee for Service Model

IBS manages a network of Appointed Representatives (AR’s) and produces no business of its own so we can never be in conflict with a client.

Independent Broking Solutions Limited is authorised and regulated by the Financial Conduct Authority, registration number 312026. Under Section 19 of The Financial Services and Markets Act 2000, no individual can carry on a regulated activity, such as broking or underwriting, in the UK unless they are an authorised or exempt person under the Act. A person can be exempt if they are an Appointed Representative (AR) of an authorised firm, such as IBS, working under a contract by which the authorised firm accepts responsibility for the regulated activities carried on by its AR.

Our model is to offer insurance professionals the opportunity to become an AR of IBS on a fee for service basis. Those services being the ability to carry out regulated activities supervised and supported by IBS.

The benefits of this approach;

  • The AR owns the limited liability company
  • It allows client access to markets not available to non-Lloyd’s brokers/underwriters
  • The set-up route is faster than creating your own regulated entity
  • The brand and trademarks are owned by the client
  • IBS undertake regulatory responsibility, therefore allowing the AR to focus on business production
  • Company formation and on-going corporate services are provided by IBS
  • No risk of client poaching when obtaining access to Lloyd’s market

Our AR model would suit;

  • Teams of brokers/underwriters , or individual brokers/underwriters dissatisfied with management constraints in their current environment
  • Established broking/MGA  entities who are not able to access the Lloyd’s market
  • Teams of brokers/underwriters , or individual brokers/underwriters who want to maximise their return on the business they produce
  • Non-UK based clients who wish to access the London Market who currently use other Lloyd’s placing brokers
  • Start-up operations who have access to an existing client base
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