As professional intermediaries, insurance brokers have trading relationships with a range of counterparties.
Managing counterparty risk is crucial for brokers, who play an important role in the supply and distribution of insurance and are heavily regulated.
Regulatory and legal requirements (including SM&CR) make the oversight and management of a broker's relationships more important than ever.
REG provides a suite of services that protect brokers, covering all aspects of their trade relationships.
Satisfy the requirements to carry out due diligence on your markets, including insurers, MGAs and other brokers. Learn more >
Achieve effective management and oversight of outsourced functions, suppliers and TPAs.
Learn more >
Manual, outdated approaches are not sufficient to achieve good governance. Getting it wrong can lead to fines, regulatory intervention and reputational damage. Fines and sanctions have never been greater.
REG ‘Regulatory Efficiency Gains’ has been designed specifically for UK Insurance Market participants as a means to lower the cost of regulatory compliance and facilitate business dealings between insurance counterparties.
REG is not a substitute for compliance. It is a tool, designed to simplify and reduce the costs of dealing with regulatory requirements.
REG is fully compliant with Industry Guidance for FCA regulations regarding management of the relationships between Insurance Market intermediaries.
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