The Tentacle

Small Broker Tax

James Sharp, retired founding director or TEn, shares his opinion on why a proposed annual levy on ARs amounts to a tax on small brokers. Imagine a bare-chested Steve White standing atop barricades stretching across Bevis Marks, brandishing a Tricolour and loudly proclaiming the cause of Liberté, l’Egalité and, above all, la Fraternité? As a founding director - now retired - of TEn, an AR network, I would hope the British Insurance Brokers’ Association (Biba) CEO would be inspired, as described…

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Vulnerable Customer Success Story

Identifying a customer as vulnerable is not only vitally important to ensure they are treated in a fair and equal way, but it can also impact customers cover and the way an insurer will deal with them. Within the network, we have recently been made aware of a case where had the customer not been identified as vulnerable and subsequent action taken, a complaint and policy cancellation would have been made by the customer. Whilst we have removed any names and details, we hope that the following will…

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Frequently asked questions

When a Broker contacts TEn, they, of course, have a number of questions they would like us to answer. We have compiled some of the most frequently asked questions below. What does it mean to be an AR? An Appointed Representative is a person who undertakes regulated activities as an agent of a firm that is Directly Authorised and acts as a Principal. In this case we, TEn, are the Principal. What level of experience/ qualifications do I need to be accepted by TEn? At TEn we want to ensure both we…

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Building your digital presence post lockdown

Over the last few months, our reliance on digital forms of communication has become undeniable. Although this was, for many, a forced shift and face to face interactions are now likely to be valued far more than we before realised, there are still some things we can take forward from this period and incorporate into the way we work and communicate and present our businesses in the future. For some not previously using digital forms of Marketing and communication extensively, the strict lockdown…

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How to handle a hard market

As a Broker working in a hard market, it is more important than ever to ensure your customers fully understand the market situation. In tough times customers may be blinded by price and get cover that doesn’t fully meet their requirements. Customers need to understand why their policies may be more expensive or harder to place, the benefits of using a broker and how you will help them secure the cover that is best suited to their needs. Below are a few key steps to best help your customers: Education…

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The Hardening Market

Due to a series of events in recent years, the Insurance Market is seeing a reduction in capacity and insurers becoming increasingly more stringent about the risks they are willing to cover. The market is primarily influenced by two main factors, the weather and the economy. With the last few years being a turbulent time for both of these, alongside some other unexpected factors, the market has seen a significant shift. Below we have laid out the main reasons the market has hardened and the effects…

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Working with mental health issues

Working with Mental Health Issues Following a Brain Haemorrhage, by Dawn Derbyshire for Insurance Age - July 2020. Nobody knows when life is going to throw a curved ball, especially when you appear – and believe yourself to be – completely fit and well. Then, BOOM! At a critical moment in my career, I was oblivious of what was about to unfold. On a return flight from a diving holiday, I suffered what is known as a Subarachnoid Haemorrhage. I was unaware it had happened to me, because although I…

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TEn Takes on Everest for Charity

TEn Insurance Services is proud to report its on-going commitment to charitable fund raising, during the current Coronavirus lockdown. This month the team at TEn decided to take on a tall challenge to raise vital funds for Alzheimer’s Society and NHS Charities Together. Staff from all three offices worked together to climb the height of Everest from their homes - that’s a total of 40,846 upward steps! After a gruelling day of climbing, the team smashed their fundraising target, raising over £2,929…

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Something About Networks

The History and Future of Networks, by James Sharp for Insurance Age - February 2020. Following my years at Ten, you’d think I would jump at the chance of saying something about networks, however, my earlier piece on the state of the PI Market proved somewhat less taxing. I was but a canvas on to which knowledgeable brokers could daub their opinions. This time I am tempered only by the advice of former colleagues, not to give away any bright ideas, not to say anything nice about anybody else and…

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The Hardening PI Market

Life is getting tougher for brokers in PI and Construction as premiums shoot up, says James Sharp for Insurance Age - October 2019. On seeking editorial guidance regarding the current topics of broker interest about which I could comment, I discovered there were two. On the one hand, what one might refer to as Sexism in the City and, on the other, the loss of appetite or capacity in certain parts of EC3. I landed the latter one, which is probably just as well. It was the late 90s when the market…

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