Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Agent definition

What does Agent mean? In practice, an agent is someone authorised to act for a principal in dealings with third parties, typically to negotiate or conclude contracts and perform transactions on the principal’s behalf. Agency is primarily a common‑law (case law) concept across England and Wales, Scotland, Northern Ireland and Ireland, with specific statutes for particular contexts (for example, the Commercial Agents Regulations and the Estate Agents Act 1979; powers of attorney legislation for attorneys). Key features include: authority (actual—express or implied—and apparent/ostensible), the capacity to bind the principal, and fiduciary duties owed by the agent (loyalty, no secret profit, avoidance of conflicts, accounting) alongside...

UK Insurance Intermediaries and Lloyd’s: Agency Status, Regulation, Duties, Professional Indemnity and Risk Management

Published by a LexisNexis Insurance & Reinsurance expert

Practice notes

What is the difference between an agent and a broker?

Where insurance is arranged through an intermediary, that party is typically either an insurance agent (who generally represents a particular insurer or a number of insurers) or an insurance broker (who usually represents the insurance purchaser).

Insurance agents

Insurance agents have contractual appointments with insurers that define the products they may offer and how they are remunerated. A ‘captive agent’ focuses on a single insurer’s products, while an ‘independent agent’ can work with multiple insurers. The agent’s role is to bring insurance business to their principal(s).

Insurance brokers

As the buyer’s representative, a broker is independent. Brokers prepare and submit applications to insurers for their clients. During placement, they obtain a temporary contract, known as a ‘binder’, signed by an authorised representative of the insurer. After the transition period (often 30 or 60 days), the binder is replaced by the issued policy of insurance.

Statutory guidance

Pursuant to Schedule 2 to the Consumer Insurance (Disclosure and Representations) Act 2012 (CI(DR)A 2012), an intermediary is regarded...

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Ruth Hosking

Quadrant Chambers

Ruth’s practice encompasses the broad range of general commercial litigation and arbitration. Her particular areas of specialism include shipping, civil fraud, private international law, insurance and commodities. Ruth has appeared in the House of Lords (as it then was), Court of Appeal, High Court and has represented clients in a variety of international and trade arbitrations (including ICC, LCIA, LMAA, GAFTA and FOSFA). She has been involved in a number of high profile cases, including "The Achilleas", a leading case on the contractual principles of remoteness of damage and "The Atlantik Confidence", the first case in which an English Court has determined that a person was barred from relying on the limits provided by the Limitation Convention. Ruth is ranked as a 'Leading Junior' in the latest editions of Chambers UK and The Legal 500. Praise given in previous editions include "quick to respond, pragmatic and honest" and...

Web page updated on 22/05/2026

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