Underwriting agency Berkeley Alexander this week offered agencies to every insurance provider that is culled by insurers because of the General Insurance Standards Council (GISC) regulation.
The firm's managing partner, Ted York, said that many insurers would now follow Axa's lead and remove agencies from firms whose core business is not insurance.
“Anybody who has had their agency cancelled as a result of the GISC rules can be appointed a Berkeley Alexander representative,” he said.
“Insurers are really seeking to remove agencies from every cake shop and bread shop whose main business is not insurance.”
York has spoken to the top ten insurers and each planned to deal exclusively with GISC-registered brokers and intermediaries.
