Brokers

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Insurance agents and brokers

For information regarding the distinction between insurance brokers and other types of agents, such as managing agents, together with guidance on the role of a Lloyd’s broker and the differences between producing and placing brokers, see Practice Note: Insurance agents and brokers.

The contractual relationship between a broker and managing agents should be documented by means of a signed Terms of Business (TOBA) agreement. See the following Precedent and drafting notes: Terms of Business Agreement (TOBA)—insurer and managing agent/broker.

Functions and duties of insurance brokers

The primary

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Latest Insurance & Reinsurance News

Reinsurers' application to Prune Chubb, Fidelis' Russia aircraft claims

Law360, London: Reinsurers including American International Group (AIG) and AXA asked a London judge on 16 March 2026 to trim Chubb European Group SE (Chubb) and Fidelis Insurance Ireland DAC (Fidelis)' claims to cover their liability to aircraft lessors for planes stranded in Russia after the invasion of Ukraine, saying they should have brought their claims via subrogation.

Insurance & Reinsurance weekly highlights—19 March 2026

This week's edition of Insurance weekly highlights includes: Iran oil crisis not due to lack of insurance, trade body says; London insurance market faces Iran war risk, Fitch says; Reinsurers' application to Prune Chubb, Fidelis' Russia aircraft claims; EIOPA seeks views on potential integrated insurance data collection system; IE calls on EU to simplify and align digital regulations plus key cases and dates for your diary.

London insurance market faces Iran war risk, Fitch says

Law360, London: The London insurance market could be directly exposed to marine and aviation claims from the war in Iran, Fitch Ratings said.

Iran oil crisis not due to lack of insurance, trade body says

Law360, London: Oil tankers are staying away from the Strait of Hormuz because of concerns about safety rather than a scarcity of insurance, the International Underwriting Association (IUA) has said.

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