Product Oversight and Governance - Citynet Insurance Brokers

 

PRODUCT OVERSIGHT AND GOVERNANCE

FOR INTERMEDIARIES ONLY 

 

Under the FCA Product Oversight and Governance rules Citynet Insurance Brokers Ltd (‘Citynet’) has determined that it is a distributor for the products it distributes as a wholesale insurance broker.

It is the Manufacturer that is the owner of the product and is responsible for creating, developing, designing, and/or underwriting a contract of insurance. Manufacturer responsibilities include making available to its distributor’s information about their target market assessment.

The purpose of this page is to communicate the information Citynet has received from the product Manufacturers Citynet transact with and share this with distributors downstream that may be acting as the agent of the policyholder.

 

Frequently asked questions (‘FAQs’)

 

Where can I find the relevant Target Market Statements and Fair Value Assessment outcomes from the manufacturer?

Some manufacturers have uploaded this information to their own website. Where we have identified this, we have in the Insurer / Underwriting Agent list made the weblink available for you to access directly. If however, there is no weblink available it will mean Citynet received this information directly by email and have it catalogued. These Target Market Statements and Fair Value Assessments stored locally can be made available on request.

Please contact Citynet’s Compliance Officer at callum.phair@citynet.co.uk and provide the following information:

  • The Manufacturers full legal name
  • The product name

What happens if the Manufacturer identifies that a particular product does not provide ‘Fair Value’ to customers?

Citynet in conjunction with the Manufacturer will take appropriate action to stop any further harm from occurring and endeavour to inform all impacted distribution partners. This could include, but is not limited to:

  • amending distribution arrangements
  • amending remuneration structures
  • or no longer distributing the product

What information could Citynet or the product manufacturer request from brokers?

On an annual basis, we’ll be requesting data from our brokers to allow us to continually assess if the arrangements in place remain appropriate and represent value for the customer.

Can you send me a copy of Citynet’s value assessment?

The assessment will include commercially sensitive information so will not be provided. If from our reviews we identify anything potentially adversely impacting ‘Fair Value’ or the outcome to the customer we’ll endeavour to inform those in the distribution channel, including the product Manufacturer.

 

INSURER / UNDERWRITING AGENT

Insurer / Underwriting agent
Accelerant Insurance Europe SA
Active Underwriting Ltd
Aegis Managing Agency Limited
AIG Europe Ltd
Aioi Nissay Dowa Europe Limited
Allianz Insurance Plc
Allied World Assurance Company (Europe) dac.
Allied World Managing Agency Limited / Syndicate 2232.
Apollo Syndicate Management Ltd
Arc Legal Assistance Ltd
Aqueous Management Limited
Arag Plc
ARB International (TMK)
Arch Insurance
Argenta Holdings Ltd
Ascot Underwriting Ltd
Aspen Insurance
Asta MGA
Aventum Group
Aviva
AXA Commercial
AXA XL (including via Angel Risk Management)
AXIS Managing Agency Limited / AXIS Specialty Europe SE
AXIS Specialty Europe SE
Beazley Furlonge Ltd
Berkshire Hathaway International Insurance Limited
Blagrove Underwriting Agency Ltd
Blenheim Underwriting Ltd
Brit Syndicates Limited
Burns and Wilcox Ltd
Capulus Ltd
Castel Underwriting Agencies Ltd
Century Underwriting Limited
CFC Underwriting Ltd
Chapman and Stacey
Chaucer Insurance Company DAC
Chubb
CNA Hardy
Coalition Risk Solutions Ltd
Collegiate Management Services Ltd
Collingwood Insurance Services (UK) Ltd
Convex Insurance UK Limited
Corniche Underwriting Ltd
Corvelia Limited
Covea Insurance plc
Commercial Insurance Services Ltd
Curo Underwriting Services Ltd
Custodian
DAS Legal Expenses Insurance Company Ltd
Direct Commercial Limited & Carraig Insurance Company Ltd
Direct Commercial Ltd & Great Lakes Insurance SE
DUAL Corporate Risk
Eaton Gate MGU Ltd
Ecclesiastical and Mercia Underwriting
Endurance Worldwide Insurance Limited
ERGO or JRP Insurance Management
ERGO UK Specialty and Great Lakes Insurance SE, UK
ERS Insurance
Euna Underwriting
Everest Re
Faraday Underwriting Limited
Faversham Underwriting Ltd
First Underwriting Ltd
Flock Limited
GB Underwriting Ltd
Geo Underwriting
Giant Risk Solutions
HCC International Insurance Company plc
HDI Global SE
Hiscox
HSB Engineering Insurance Ltd
IGI UK
Iprism Underwriting
International Transport Intermediaries Club Limited
Jensten Underwriting
KGM Underwriting Services
Lancashire Insurance Company (UK) Limited
Legal & Contingency Ltd
Liberty Mutual Insurance Europe SE
Lonham Marine Underwriters
M & M Underwriting
Manchester Underwriting Management Ltd
MAP Syndicate 2791
Markel International Insurance Company and Markel UK Ltd
Markerstudy Insurance Services Limited
Medical & Commercial International Ltd
Mercia Underwriting
MGA Encompass
Modus Underwriting
Mosaic Insurance
MPR Underwriting
Munich Re Specialty Insurance (UK) Ltd
Newline Group
Nexus Underwriting Ltd
NPA Insurance Ltd
Octane London Markets
Omnyy LLP
Optio Group Limited
Pardus Underwriting Ltd
Pen Underwriting Limited
Prestige Underwriting Services
Probitas Managing Agency Ltd
Prosure Solutions Limited
Pulse Insurance
QBE
Royal Sun Alliance
SCOR Managing Agency Ltd
Somerset Bridge Ltd
Sportscover
Starr
Stonefort Insurance SA
Sutton Specialty Risks
Syndicate 2525
The Fiducia MGA Co Ltd
The New India Assurance Company Limited
Towergate
Trafalgar Marine Trades
Travellers
Trilogy Underwriting Ltd
TriStar Special Risks Ltd
Unicorn MGA
Volante Global (Services) Limited
Wimsure Underwriting Ltd
Worldwide Hole’N One Limited
XS Assure Ltd