Being an Appointed Representative

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Fenchurch Broking Ltd (Fenchurch) FCA number 938305 is an appointed Representative of Bennett Gould & Partners Ltd, which is authorised and regulated by the Financial Conduct Authority under FCA number 306850.

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Bennett Gould & Partners Ltd (BGP), is an accredited Lloyd’s insurance broker with offices in London and Gloucester, UK. BGP was established on 16th June 1972.

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​So what does it all mean? In quick summary, Bennett Gould & Partners provide Fenchurch a Lloyd’s platform enabling them to trade in the London market, Bermuda and Europe.

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​What does Fenchurch Provide:-

• Production of business, simply focus on producing business and servicing our clients whilst BGP Ltd take care of the back office services allowing us to solely concentrate on producing business.

• Placing business into the London companies & Lloyds, European and Bermudian markets. Slips are placed on Fenchurch and Partners headed slips but processed under the BGP “B0880” unique number.

• Fenchurch operate a fully functioning office, with staff, systems and operating procedures.

• Fenchurch make use of the best in class cloud based systems allowing staff to work seamlessly anywhere.

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What Does BGP Limited Provide:-

• A platform for Fenchurch to be able to trade in the London and overseas markets with established trading arrangements.

• Full Lloyds access, passes are provided. BGP also trade on the PPL digital platform.

• Claims – all claims are handled by the BGP claims team.

• Processing system – BGP's applied systems.

• Compliance – all client Terms of Business agreements (toba’s) and market toba’s will be issued in the name of BGP Ltd and all subsidiaries. This includes Fenchurch.

• Continuing education modules – BGP will provide online learning courses which are required by the FCA.

• Audit – Fenchurch will be internally audited twice a year by BGP.

• Accounting and credit control – BGP will handle all client money, monies will be held in segregated client accounts, this is an FCA requirement. They will also pay the money to underwriters.

• Management information to include renewal lists and aged debtors etc.

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​Questions and Answers

• What are the benefits of dealing with Fenchurch? BGP are ultimately responsible for handling both the client and underwriters money, in accordance with FCA rules.

• Is the best way to think about Fenchurch as a production unit of BGP? Yes, that’s correct.

• How many other appointed representatives does BGP have?  BGP currently have over 30 under management.

• Does BGP have any special controls on their Appointed Representatives? Yes, all staff need to be approved by BGP and all directors need to be approved by the FCA. BGP sign off on all external communications and literature. BGP audit Fenchurch within 3 months of appointment and thereafter every 6 months as well as having a sign on to the Fenchurch IT system.

• Does BGP and Fenchurch have any business conflict? No, BGP does not have any other Appointed Representatives handling USA business.