Advice and support on the development of a distribution chain involving the use of non-admitted insurers
The Client’s Needs
The client, a developing broker network, required advice and support on the development of a distribution chain involving the use of non-admitted insurers due to the constriction in capacity in the UK for certain product lines.
ICSR was able to support the client by using specialist compliance expertise to advise on licensing and operating a distribution network and chain leading to a non-admitted insurer. The advice included development of structure charts and matrices of the activities which each party in the chain may or may not undertake and may or may not outsource as well as a summary of the key contractual requirements which would be required.
ICSR deployed an experienced team leader with significant compliance and licensing expertise.
The client continued the development of its product and distribution chain in order to provide needed capacity to the UK market for compulsory insurances.