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What information do insurers require from insurance brokers & fsps?

Information insurers typically require

• FSP number and category
• Number of representatives
• Annual revenue
• Product lines (short-term, long-term, investments, medical aid, employee benefits)
• Whether Fidelity cover is required
• Claims history

What cover includes

✓Claims arising from alleged negligent financial advice or intermediary services.
✓Regulatory defence costs in responding to FAIS-related complaints, subject to policy terms.
✓Liability arising from representatives acting under your licence.

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See also: Insurance Broker PI Cost · Insurance Broker PI Claims · Insurance Broker PI Exclusions