Insurance intermediary (IAS)
The regulated status of someone who presents, proposes or helps conclude insurance contracts for a fee. Like the IOBSP on the credit side, an IAS must be registered with ORIAS and meet competence, disclosure and advice duties. Many credit brokers also hold this status to offer delegated borrower insurance.
Key points
- Regulated status of any person who distributes insurance contracts for a fee.
- Mandatory ORIAS registration with proof of training and professional liability cover.
- Several categories coexist: broker, general agent, non-exclusive agent, etc.
- Many credit brokers also hold IAS status to offer borrower insurance.
Frequently asked questions
What is the difference between an insurance broker and a general insurance agent?
An insurance broker acts for the client: they search the market for the best offer, can work with multiple insurers and must advise impartially. A general agent acts for one or more insurance companies whose products they represent on an exclusive or near-exclusive basis. In borrower insurance, a credit broker who proposes a delegation acts as an insurance broker, with far greater selection freedom than a captive agent.
Why would a credit broker benefit from also holding IAS status?
Borrower insurance is often the second-largest cost item in a mortgage after interest, and legislation on delegation now makes it straightforward to replace the bank's contract with an alternative offer. By also being registered as an IAS, the credit broker can present and recommend insurance contracts, generate additional revenue and offer the client a complete solution through a single contact. This dual role is common and valued by borrowers.
What training obligations apply to IAS status?
Insurance intermediaries are subject to a continuing professional development obligation whose annual volume of hours is set by regulation. The training covers both product technical aspects and applicable regulations, notably the rules from the Insurance Distribution Directive. Evidence of training must be kept available for inspection and renewed each year to keep the registration valid.
In practice
A mortgage broker registered with ORIAS as both a COBSP and an insurance broker presents to their client, alongside the loan offer, two borrower insurance contracts alternative to the bank's own. This approach lets them generate additional income while saving the borrower several thousand euros on the total cost of their insurance.
Put it into practice with CourtImmo
See how CourtImmo software helps brokers on this topic:
Official sources
- Single register of intermediaries · ORIAS
- The banking-operations intermediary (IOBSP) · ABE Info Service (Banque de France / ACPR)