Insurance and/or reinsurance intermediaries, established in Ireland, that intend to provide insurance and/or reinsurance mediation services must be registered in accordance with the European Communities (Insurance Mediation) Regulations 2005 which give effect in Irish law to the European Communities Insurance Mediation Directive.
The Financial Regulator is responsible for:
- registering insurance and reinsurance intermediaries and processing any relevant subsequent amendments
- the ongoing prudential supervision of insurance and reinsurance intermediaries registered in Ireland
- the ongoing supervision of insurance intermediaries in respect of their compliance with the Consumer Protection Code
There are a number of types of intermediaries, namely:
- Insurance intermediary
- Tied Insurance Intermediary (a sub-type of insurance intermediary)
- Reinsurance Intermediary
- Insurance and Reinsurance Intermediary
Insurance intermediaries can provide general, life and health insurance products to consumers, depending on the type of insurance companies from which they hold appointment.
For further information on investment intermediaries, please go to the Retail Investment Intermediaries or the Mortgage Intermediaries section.
There are over 4000 Insurance/Reinsurance intermediaries registered in Ireland.