Every broker wants to have strong insurer relationship which in turns leads to better commission and terms for your clients.
Cultivating these relationships however, takes up valuable time, often there is an additional requirement for minimum support levels which can be hard to achieve when there are several insurers you wish to have agencies with.
Traditional networks are an expensive channel for insurers due to the commission overriders they must pay.
All broking is done directly between our members and underwriters. No one knows the risks like the client facing broker. Insurers benefit by understanding the risk better and being more in control, whilst our brokers enjoy better terms.
All AR’s are noted on our TOBA’s with insurers by the means of a sub-addendum. Many insurers will manage the relationship directly with the brokers from there on and even open direct agencies.
All brokers will have access to the vast majority of insurers, however some are restricted to certain members only. There are only a handful of insurers who operate exclusively via the broking desk but agencies can be granted on a case by case basis subject to business need.
Insurer benefit from a cost-effective distribution channel into the network and in return offer good commission but they reserve the right to choose which brokers to deal with.
The Partnership never takes overriders, all commissions go directly to brokers.
Our agencies are shared and therefore we all have an obligation to be polite and professional with insurers staff. There is an escalation process to make representations should one of our brokers wish to complain about individual cases.