Broker Checklist

(using third party information sources)

The attached is a list of checks which MGAs can undertake on brokers and other types of intermediary from information which is available from public registers or third party information sources. This process can be used to supplement, as well as verify, answers given to questions in any application form the MGA may ask the broker to complete (which may themselves give rise to further enquiries) and any other due diligence enquiries (for example, in connection with third party payments).

Whilst this checklist is primarily aimed at UK brokers, equivalent checks can be undertaken by MGAs wishing to appoint overseas brokers, to the extent that equivalent information is available.

This checklist is not intended to be prescriptive or exhaustive; MGAs should consider the extent to which checks are made and repeated, taking a risk-based and intelligence-led approach in all cases. Professional guidance should be taken in the event of any queries or uncertainty.

Please click on the link below to download the guide.
Broker Checklist
(Adobe PDF File)