VATINS5220 | Services of an insurance intermediary: insurance brokers and insurance agents: acting in an intermediary capacity

An insurance intermediary for the purposes of Group 2 is someone who acts in the direct chain between an insurer providing insurance (see VATINS1210) and anyone who wants to buy, or has already bought, insurance or reinsurance.

Legal Note 2 of Group 2 describes the criteria which must be fulfilled if someone is to be treated as acting in an intermediary capacity:

Note (2) For the purposes of item 4 services an insurance broker or agent is acting “in an intermediary capacity” wherever he is acting as an intermediary, or one of the intermediaries, between -

a. a person who provides insurance or reinsurance and;

b. a person who is or may be seeking insurance or re-insurance or is an insured person.