The term Insurance Broker became a regulated term under the Insurance Brokers (Registration) Act 1977[1] which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies.
Insurance brokerage is largely associated with general insurance (car, house etc.) rather than life insurance, although some brokers continued to provide investment and life insurance brokerage until the onset of more onerous Financial Services Authority regulation in 2001. Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of catastrophic financial loss. ... It has been suggested that Life assurance be merged into this article or section. ... The Financial Services Authority (FSA) is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. ...
Insurance broking is carried out today by many types of organizations including traditional brokerages, Independent Financial Advisers (IFAs) and telephone or web-based firms. Independent Financial Advisers or IFAs are professionals who offer unbiased advice on financial matters to their clients and recommend suitable financial products from the whole of the market. ...
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Brokers commonly work for either an individual looking for the coverage that suits them best, or with companies. Brokers act like advisors, providing the best service and benefits that they believe would fit their clientele.
This is an incomplete list of Acts of the Parliament of the United Kingdom for the years 1960-1979. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...
The term InsuranceBroker became a regulated term under the InsuranceBrokers (Registration) Act 1977 which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies.
Insurance brokerage is largely associated with general insurance (car, house etc.) rather than life insurance, although some brokers continued to provide investment and life insurance brokerage until the onset of more onerous FSA (Financial Services Authority) regulation.
Insurance broking is carried out today by many types of organisations including traditional brokerages, Independent Financial Advisers (IFAs) and telephone or web-based firms.
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