Blog: New AR rules should be business as usual
Momentum's Howard Pepper discusses what the FCA's AR consultation means for the broking sector.
When the FSA took over regulation of insurance in 2005, most brokers shied away from appointed representatives. Already nervous of what the new regulator would mean for them; risking everything for a third party and placing your hard-won authorisation in their hands was unthinkable.
However, in 2022 according to the FCA consultation paper, some 13,500 ARs operate in the general insurance and protection sector. Whilst some principal firms have hundreds (or even thousands) of ARs, more than half
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