Insurance mediation officer meaning

The individual within a professional firm who oversees compliance when the firm arranges, advises on or assists with insurance for clients. The role is not defined in UK or Irish legislation; it arises from UK designated professional body (DPB) rules for exempt professional firms (for example, the SRA and ICAEW). Since implementation of the Insurance Distribution Directive in 2018, many UK DPBs refer instead to an “insurance distribution officer”, but the function is the same. Where a law or accountancy firm carries on insurance distribution (formerly insurance mediation) under a DPB regime rather than full FCA authorisation, it must appoint an officer to ensure systems and controls, staff training, file checks and record-keeping, handle complaints, and report and remediate breaches in line with the DPB’s Financial Services Conduct of Business requirements, liaising with the DPB and, where relevant, the FCA. Usage is broadly consistent across England & Wales, Scotland and Northern Ireland under each DPB’s rules. In Ireland, the term is not commonly used: firms undertaking insurance distribution must meet the Central Bank of Ireland’s regime (including having a compliance function), but no specific “insurance mediation officer” title is mandated.