FCA Authorisation for Insurance Brokers
Get an instant readiness verdict for FCA authorisation. Answer a few quick questions tailored to your business activity.
- Takes 2-3 minutes
- Tailored to your activity
- Designed by ex-FCA specialists
Insurance at a glance
- Authorisation route
- Permission for insurance distribution activities (advising, arranging, dealing as agent) relevant to your model.
- Capital & resources
- Financial resources requirement plus mandatory professional indemnity insurance at IDD minimum levels.
- Typical timeline
- The FCA usually assesses a complete application within 6 months; up to 12 months if it is incomplete.
1. Select your primary activity
Do you have a clear business plan and target market for the permissions you want?
The FCA expects firms to clearly define their target market and show how the business model supports good customer outcomes and regulatory compliance.
Your instant verdict
Answer the questions to see your live readiness verdict.
Speak to our ex-FCA team about your plans.
Readiness score
Your current readiness across the key FCA authorisation pillars.
Top actions
Prioritised actions to close gaps and improve your readiness.
Likely timeline
Usually within 6 months for a complete application (up to 12 months if incomplete).
MEMA support plan
How we can support you from application to approval and beyond.
View support options →Not sure you need authorisation at all? Try the free MEMA Scope perimeter check first. This is an indicative self-assessment, not regulatory advice. For a fuller assessment, book a free scoping call.
What the FCA assesses for an insurance intermediary
Insurance intermediaries are authorised under FSMA to carry on insurance distribution, with conduct standards in ICOBS and the IDD-derived requirements. The FCA expects appropriate knowledge and ability, product oversight and governance, and professional indemnity cover.
The 12 questions in this check
Business Model & Scope
Do you have a clear business plan and target market for the permissions you want?
The FCA expects firms to clearly define their target market and show how the business model supports good customer outcomes and regulatory compliance.
Business Model & Scope
Are the regulatory permissions you are applying for correctly scoped for what you will actually do?
Applications are commonly delayed when the permissions requested are broader than the business model, or miss activities the firm will carry on.
People & Accountability
Do you have people with the right experience for the senior roles your regime requires?
The regulator assesses whether the individuals running the activity are competent, capable and fit and proper, with responsibilities clearly allocated (under the SM&CR, the PSD/e-money individual regime or the money laundering rules, depending on your activity).
Financial Resources & Safeguarding
Do you have the capital, safeguarding approach, and financial resources documented for the activity you want to carry on?
The FCA expects appropriate capital planning, safeguarding arrangements (where relevant) and evidence of sufficient financial resources to support the proposed activity.
Compliance Oversight
Do you have ongoing compliance oversight, monitoring, and complaints handling in place?
The FCA expects clear responsibility for compliance, active monitoring of risk and controls, and effective arrangements for handling customer complaints.
Systems & Controls
Do you have the systems, records and financial crime controls the activity requires?
Firms must evidence adequate systems and controls, record keeping, and (where in scope) financial crime and AML arrangements proportionate to the business.
Governance & Accountability
Is there clear board or senior management oversight and accountability for the regulated business?
The regulator expects governance arrangements that give senior management effective oversight, with clear individual accountability.
Ownership & Establishment
Have you mapped your controllers and beneficial owners, and is the firm's mind and management in the UK?
The FCA assesses controllers, beneficial owners and group structure, and expects the firm to be capable of effective supervision with its head office and key functions in the UK (a Threshold Condition, or the equivalent condition under the PSRs/EMRs/MLRs).
Application Readiness
Are your application pack and supporting documents drafted and ready to submit?
A complete, consistent application pack with the required supporting documents materially reduces the risk of delay or a request for more information.
Professional Indemnity
Do you hold, or have quotes for, professional indemnity insurance at the required minimum levels?
Insurance intermediaries must hold professional indemnity insurance at the MIPRU minimum levels; adequate cover is a condition of authorisation.
Knowledge & Product Oversight
Can you evidence IDD knowledge and ability, and product oversight and governance arrangements?
Relevant staff must meet knowledge and ability requirements with appropriate ongoing training (the fixed 15-hour CPD minimum was removed in December 2025), and firms must operate PROD product oversight and governance.
Client Money
Will you hold client money (premiums), and if so are your CASS 5 or risk-transfer arrangements documented?
Many intermediaries hold client money; whether you do affects your permissions, prudential requirements and audit, so the FCA expects clear CASS 5 or risk-transfer arrangements.
Common pitfalls
- Professional indemnity insurance below required levels
- Knowledge and ability (IDD training) not evidenced
- Product oversight and governance arrangements missing
Read more on our FCA authorisation service, see how we support insurance firms, or work through the full authorisation readiness checklist.
FAQ
Do insurance intermediaries need professional indemnity insurance?
Yes. The Insurance Distribution Directive sets minimum professional indemnity insurance levels, and adequate cover is a condition of authorisation and ongoing regulation.
What is product oversight and governance?
It is the set of arrangements ensuring products are designed and distributed to meet the needs of an identified target market, which the FCA expects intermediaries to evidence.
How long does FCA authorisation take for an insurance intermediary?
The FCA usually assesses a complete application within 6 months; up to 12 months if it is incomplete. Incomplete applications and slow replies to the FCA's questions are what stretch the timeline in practice.
How many FCA applications are refused?
The FCA publishes this. For new firm authorisations in 2025/26 it recorded 6 refusals, 185 rejections (applications that did not include the minimum information) and 389 withdrawals. In 2024/25 it was 12 refusals, 157 rejections and 506 withdrawals. Formal refusals are rare, but a much larger number of applications are rejected as incomplete or withdrawn before a decision. For the FCA's "Insurance" grouping in 2025/26 the figures were 0 refused, 1 rejected and 8 withdrawn. Source: FCA data OE-M02.
How accurate is my result?
It is an indicative readiness view based on your answers, designed by ex-FCA specialists. It is not a prediction of the FCA's decision or a substitute for a full assessment.
Is this a compliance check?
No. It is a quick self-assessment to help you understand your readiness and the gaps to close before you apply. It is not regulatory advice.
How is my data used?
Your answers power your live result. If you ask for the PDF report we email it to you and may contact you about your results. See our privacy policy for details.
What happens after I submit?
You get the PDF readiness report by email, and you can book a free scoping call with our ex-FCA team to talk through the gaps.