General insurance network CETA has unveiled its support services proposition for intermediaries when the general insurance market becomes regulated in January 2005.
CETA will offer assistance to intermediaries whether they are directly authorised, appointed representatives, introducers or even if they want to leave the industry.
Directly regulated brokers will get compliance support via a quotation system, access to training materials, computerised training logs and CETA's product provider panel, as well as use of an online case tracking system. Directly authorised brokers will also be eligible for real-time electronic payment.
CETA has also launched an appointed representative offering with a full network service for brokers selling a range of general insurance products including household, ASU, term assurance and critical illness cover. It says it will provide full compliance support, training, ongoing compliance assessment, full PI cover, business development assistance and will allow multiple principal agreements.
Mortgage introducers will be offered sales brochures for their clients while brokers planning to leave the industry are offered 'CETA exit' through which brokers can continue to receive income after they have left the industry by retaining their client bank and receiving commission for renewals and new business.
CETA managing director David Quick says: “CETA is ready for regulation ahead of schedule so brokers can make decisions about general insurance at the same time as mortgages.
“Direct authorisation will give brokers the greatest freedom to pick and choose the providers they work with. If they prefer to become ARs, introducers or leave the industry altogether that's fine, as CETA is able to help.”