Just to synchronise your understanding and our terminology here, we may variously refer to those who join TEn, either as ARs, Practices, Brokers or Members, depending upon what sounds better to us at the time.
Using the words Practice or Practitioner does not suggest that the term ‘broker’ is no longer appropriate in our model. It is simply that ‘broker’ can be ambiguous as between the person and the Practice, or Firm, or Company.
Our real dilemma is that we don’t much care for the term Appointed Representative (or AR), as this tends to conjure an image of driving around the countryside with a car boot full of sampled hair-care or de-odourising products.
There is, alas, little we can do about it, although we have thought about petitioning for the adoption of the Australian interpretation of AR; this being Authorised Representative, which sounds a whole lot better.
In truth, as our membership have their own corporate identities anyway, mostly along the lines of XYZ Insurance Brokers Ltd or Risk Solutions Ltd, the ‘AR thing’ is hardly - if ever - noticed or remarked upon by their clients.
NOTE: The diverse branding chosen by the TEn Membership constantly appears and changes across the bottom of this website.
The clients of each broker belong to that broker
Nobody else, not ever
So, there are no restrictions upon departure
other than reasonably assured payments
of any and all outstanding premiums
Rule #1: the clients of a Broker belong to them… NOBODY ELSE, NOT EVER.
A Broking Services operation does not normally deal directly with end-user client, except insofar as such contact is in furtherance of a Complaint, an Accounts query, or as part of a Locum Service - for and on behalf of the AR, .
All agencies are in the name of TEn. Sometimes (but rarely) in respect of a niche broker or scheme, that a specific AR’s name is mentioned as well.
From an insurer’s perspective, 99% of the time, they see only one agency and, thus, they derive cost benefits through simplification and efficiency, in return for improved service levels and enhanced terms of trade.
TEn Insurance Services is the entity that is regulated by the FCA and our members are regulated by us in turn; as Appointed Representatives (ARs).
Therefore, we take rather seriously the compliant operation of all our members; because we would be blamed if anything were to go wrong.
TEn regards its Appointed Representatives as both customers of an ‘outsourced services provider’ and participants within a regulated intermediary network.
So, TEn accepts responsibility for the compliant operation of its AR community, reasonably expecting, in return, adherence to its directives, whilst acting as mentor, guardian and trusted supplier to that same community.