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ITC Let Compliance
Friday 24th October 2014 8:43am

www.letcompliance.co.uk
T: 0845 177 22 66
F: 0845 177 22 55

Welcome to PMACompliance...

Regulation for General Insurance began in January 2005. The introduction of this regulation lead to a great deal of confusion, particularly around the secondary insurance market and for those organisations supplying support services.

The key question for many is "do I need to be regulated" and if so "how"

In the case of Letting Agents and Property Managing Agents the answer is... it depends; and it depends upon what activity you are undertaking:

  • If you are arranging insurance on behalf of your property owners;
  • If you assist with claims on behalf of your property owners. E.g. complete the claim form, submit it to the insurer with supporting evidence etc
  • If you recommend a specific policy to your property owner or
  • Enter into a contract of insurance with a customer on behalf of the insurer

Then you are very probably caught by FCA regulation.

If I need to be regulated, what are my options?

  • You can be fully authorised by the FCA, with the associated cost, administrative burden and of course the legal liability.
  • You can become an Appointed Representative of a Product Provider and be tied to their products and pricing structure
  • You can be an Appointed Representative of an Independent Network - ITC free yourself of the burden of direct FCA authorisation together with the administrative, financial and legal obligations this brings with it.

To become an Appointed Representative of ITC simply complete the straight forward application by clicking apply to join or call us on 0845 177 22 66 for further information.

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