Allianz Cornhill has started an operation to check the FSA status of brokers it does business with.

Broker partnership manager Chris Garrett said that the process, which began this week, would allow the company to update its records and check which brokers had applied for authorisation and which had received their 'minded to authorise' letter.

Garrett said he expected that the "majority" of Allianz Cornhill's brokers were becoming FSA compliant.

He said that an initial survey of its brokers conducted earlier this year revealed that only 200 did not plan to become FSA authorised.

Meanwhile, Allianz Cornhill is expected to release its terms of business agreements in the next few weeks.

Sources said that the document, currently with Allianz Cornhill's legal department, did "not contain any surprises" around non-solicitation.