Agency Applications

Agency application for sub agents who are regulated by the FCA

To be eligible for an Agency with Advisory Insurance Brokers Limited (AIBL), trading as Towergate Insurance, you must have all the FCA permissions to operate as a Fully Authorised Agent (FAA). You must also have a current professional indemnity policy with an appropriate indemnity limit and be able to introduce appropriate AIBL products to your clients with a commitment to place with AIBL a total annual Gross Written Premium (GWP) of not less than £50,000 per annum.

  1. Please download and complete the Agency Application form.

    Download the form here.

  2. Return your completed Agency application to:

    wholesale.team@towergate.co.uk

  3. Include with your agency application:

    • A copy of your latest RMAR/GABRIEL or, if the Company has been registered with the FCA for less than a year, a copy of the financial information sent to the FCA as part of the application with them.
    • A copy of the Profit & Loss Account and Balance Sheet from the last set of audited Accounts.
    • Confirmation that you can hold and control Client Money and attach evidence confirming whether statutory or non- statutory account.
    • A copy of your Professional Indemnity Certificate / Schedule of insurance stating the period of cover, insurer name and indemnity limit and excess per claim.
    • Confirmation of your total GWP, the top 3 products you are placing, the top 3 underwriters you place with and your projected GWP to be placed with AIBL (Towergate) over the next 12 months.

  4. AIBL will carry out searches & checks in connection with this application

    AIBL will carry out the necessary searches with a licensed Credit Reference Agency, and may also ask them to check all or any of the application details you have submitted. You hereby expressly consent to such search or check. Should this application be successful, you agree to adhere to and be bound by AIBL terms and conditions of membership.

    You can download an example of the FAA ToBA and the Schedule 3.

  5. The insurers we use must approve each and every agent

    The Insurers reserve the right to carry out checks on the agents we provide a TOBA to. This will include, but is not restricted to, ensuring that brokers must have FCA permission to hold client money when arranging insurance with an insurer who is not listed on Schedule 3 as cascading risks transfer.

Client money holding permissions

Brokers who have FCA permission to hold client money must protect the money it holds and/or controls on behalf of clients. This money, net of the Broker's commission, must be used to pay the premium debited to your account for clients insured through Advisory Insurance Brokers Limited, trading as Towergate Insurance. For Brokers who do not have permission to hold client money, Schedule 3 of your TOBA provides a list of insurance providers who have agreed to treat client monies collected by the Broker as being received by them. This is called Risk Transfer. See the list of these insurance providers.

Broker profile form

If you wish to apply to upgrade an existing TOBA to Premier Broker please complete the online Broker Profile form and email this to the Broker Development Team.

Premier Broker Rewards and Requirements

See if you qualify as a Premier Broker and wish to work in partnership with Advisory Insurance Brokers Limited, (AIBL) trading as Towergate Insurance. Premier Brokers get access to all of our broker products plus practical support to do more for your clients and more for your business too. Our insurance capacity for certain products is reserved exclusively for Premier Brokers.