Agency Guidelines
These guidelines reflect FSA Regulation of what an Appointed Representative, an FSA directly regulated member, and a member of an approved 'network' can do under their relationship with Higos.Introducer Appointed Representatives can:
- Introduce a Client
- Obtain details of a Client (e.g. name, address & contact details)
- Provide marketing literature
- Display leaflets
- Arrange an interview
but cannot:
- Explain a type of insurance cover
- Advise or sell
- Collect a premium
- Complete proposal forms or collect information (other than contact details)
Appointed Representatives can:
- Act on our behalf, with regard to General Insurance Activities, on products where they are authorised. On products where they are not authorised they may only act as an introducer
but cannot:
- Use more than one provider for a product (e.g. Motor Insurance)
- Collect the premium (bank monies on our behalf)
FSA Directly Regulated Principals (with appropriate permissions) can:
- Choose to act on either an advising or introducing basis (where advising they are responsible to the FSA for the advice given)
- Use more than one provider
- Collect the premium (client trust account required)
Approved Network Members can:
- Act as prescribed by their network for Insurance Mediation activities
- Receive commissions, both new and renewals, usually via their network