About Cantor Atkin Broker Services for Aspiring Lloyd's Brokers.
If you are considering applying to become a Lloyd’s broker now or in the future, do not hesitate to contact our expert team at Cantor Atkin Broker Services. With over 65 years’ combined experience in the Lloyd’s and London insurance market, we have successfully assisted established insurance brokers and insurance start-ups not only with the entire Lloyd’s application process but also with our range of technical back-office support services following Lloyd’s accreditation.
Aside from achieving the highly regarded Lloyd’s status and being able to trade in the Lloyd’s market, there are of course substantial advantages to be gained by becoming a Lloyd’s broker, one of which being the savings made on the amount of brokerage that is generally paid to other Lloyd’s brokers to act as your representative.
The initial fee paid to Lloyd’s may seem relatively high and the process appear daunting. However, with our guidance, our clients have reaped the benefits of becoming a Lloyd’s broker and delivered significant improvements in their bottom line results in a relatively short space of time. Notwithstanding the financial gains, as a Lloyd’s broker, you have control over your documentation processes and the issuance of your policy documentation which in turn means you are in control of client management and ultimately client satisfaction.
Our highly experienced team is based in Folkestone, Kent with easy access to London but without the overheads associated with London office space, meaning we pass on the savings to you. Unlike some of our competitors who have a minimum entry fee or a fee based on the number of transactions, our transparent flat fee structure will enable you to manage your cost base and budget effectively and with certainty. Additionally, our services are completely tailored to your needs and we are more than happy to discuss your individual requirements.
Our staff are fully conversant with the Insurance Market Repositories having had direct experience of working at Xchanging. This is of utmost importance as demonstrating knowledge of the Xchanging systems is a prerequisite of the Lloyd’s application process.
What if I am setting up as a brand new Lloyd's Insurance Broker?
If you are an insurance broker parting company with your current employer and setting up on your own or with partners or colleagues, we can provide invaluable advice to help you set up business through our Accountancy and Strategic Business Services. So much so that some of our clients have indeed opted to use our combined Insurance Broker Back-Office Support and Accountancy services and have also used our company secretary and directorship services.
Furthermore, at Cantor Atkin Broker Services, we understand the exacting requirements of the FCA and the processes that need to be implemented to manage the regulatory burden and ensure FCA compliance. Our team can ensure you meet all the requirements of the Financial Conduct Authority (FCA) when you first set up and when reporting as your business develops.
Our Financial Conduct Authority (FCA) services include:
- Assistance with the FCA approval process including the development of a business plan.
- A full Compliance support service.
- 6 Monthly FCA Retail Mediation Activities Returns (RMARs).
- 25-day client money reconciliations.
- Establishment and maintenance of Client Trust Bank accounts and associated documentation.
- Assistance with Agency agreements and Insurer Terms of Business Agreements (TOBAS).
Do not hesitate to contact either Dan or Martin for an informal chat and to discuss your requirements. We look forward to hearing from you.