What are the procedures for setting up an insurance broker firm?

Question

What are the procedures for setting up an insurance broker firm?

Answer 1

Anyone can get a license and start soliciting prospects.

However, I would recommend working for someone else first, and learning everything you can about at least 5 different types of insurance; i.e. commercial property, personal auto, life, individual medical, group medical, etc.

Answer 2

for setting up a broker fierm you have to be agent for some insurance  company to knowing for companies please check http://wwwinsuranceplan4u.com

Answer 3

go to macdonalds , buy a applepie , rush back home , search on google.....

Answer 4

The first thing you will have to do is satisfy the FSA that you have the resources and apply for part IV permission (see www.fsa.gov.uk for details)

You will also have to show that you have adequately trained staff.

Once that is done you can contact insurance companies to see if they will allocate agencies to you. This will no doubt involve due dilligence on their part.

You may wish to become part of a network - maybe teN can help. If you become an AR then FSA registration is not necessary as your principal overseas regulatory aspects,.