Q&As

Does an insurance intermediary act as agent of the 'insurer' or agent of the 'insured' when distributing insurance products online under the following types of agreements with its insurer panel: a) standard 'Terms of Business' agreements (with no delegated authority), b) full Delegated Authority agreements? What would be the consequences of being found to be agent of the 'insured' and 'insurer' respectively eg liability, regulatory implications such as disclosures to customers under ICOBS? This would be in the context of the distribution of insurance rather than the collection and payment of premium (in the latter context the intermediary would act as the agent of the insurer).

read titleRead full title
Copyright © 2025 LexisNexis
Published by a LexisNexis Insurance & Reinsurance expert
Published on: 14 June 2021

Our Practice Note: The functions and duties of insurance brokers—policy placement provides guidance on these points. In particular, the functions of insurance brokers, which stipulates ‘This primary function [placement] is carried out as an agent of the insured, but brokers also carry out various other tasks. Whether the broker is agent of the insured or insurer depends on the nature of the task. Brokers

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Intermediary definition
What does Intermediary mean?

An intermediary refers to a person who does certain business in the financial and investment services.

Read more readmore

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application

Contributory negligence in personal injury claims

Contributory negligence in personal injury claimsContributory negligence is a partial defence which can lead to a discount in damages.Other defences may also be relevant. See Practice Notes: Did the claimant consent to the risk of injury? and Was the claimant involved in an illegal activity?If a