The Law of Insurance Broking and Insurance Brokerage Firms Lloyd's Insurance Law Library Series

Insurance brokers play a vital role in the insurance market by matching the assured's needs with insurers? products. They may also act in other capacities such as, producing broker, placing broker, or even underwriting agents.

This book introduces the professional activities that a broker undertakes on a daily basis and outlines the scope of duties they owe to the assured and insurers when playing different roles. It covers:

• the scope of the insurance broker?s duties
• relevant compliance issues
• the lifecycle of an insurance policy
• Insurance Act 2015, IMD II and Solvency II legislation
• EU laws regulating insurance brokerage
• the latest case law and regulator's decisions

This book is a detailed and practical guide, and as such will be an essential reference for insurance broking professionals, compliance officers in insurance brokerage firms and legal practitioners involved in insurance and reinsurance.

Part I Insurance Broking Chapter 1. Agency – whose agent the broker is Chapter 2. Placement of cover Chapter 3. Duty of disclosure Chapter 4. Payment of Premium Chapter 5. Remuneration Chapter 6. Broker's Role in the Claims Process Chapter 7. Producing broker and placing broker Chapter 8. Lloyd's Broker Chapter 9. Reinsurance Broker Chapter 10. Insurance broker acting as a cover-holder Chapter 11. Broker's fraud Part II Insurance brokerage firms Chapter 12. Establishing an insurance brokerage firm Chapter 13. Anti-bribery and corruption systems (Bribery Act) Chapter 14. Professional Indemnity Insurance for insurance brokers Chapter 15. TAX Chapte 16. Competition Chapter 17. Insolvency

Dr Miao Li is a practicing solicitor in the Professional and Financial Dispute department at Clyde & Co. LLP, UK. She has contributed to other works on insurance brokerage as well as completing a PhD on the subject.