In Jan 2021, Fenchurch opened for business as an "Appointed Representative" under Bennett Gould and Partners.

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 What does being an Appointed Rep actually mean?

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

Bennett Gould & Partners Ltd (BGP), which 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 Broking Ltd a Lloyd’s platform enabling them to trade in the London market, Bermuda and Europe.

 

​What does Fenchurch Broking Ltd 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 Broking Ltd 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 Broking Ltd 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 Broking Ltd.

·        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 also are responsible for paying 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, think of us as the North American team (USA and Canada).

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