Norwich Union (NU) is working with Biba to help brokers set up trust accounts, as required by FSA regulation.
NU will state in its terms of business agreement (TOBA) that all brokers it accepts risk transfer for must have either a statutory or non-statutory trust in place.
NU intermediary business director Ken Wallace said it was working with Biba to create standardised templates for statutory and non-statutory trusts to aid Biba members.
He said that in cases where NU was accepting risk transfer it may also impose independent broker audits.
Wallace said NU would begin releasing its TOBA to brokers next week.
He said the NU TOBA adhered to the intent of the joint ABI/Biba/IIB agreed TOBA, and contained only changes from its previous TOBA that were required by FSA regulation.
He hit out against other insurers for making fundamental changes to their trading terms.
"I'm disappointed that some companies have taken this opportunity to make other changes not required by the FSA ," Wallace said.
He added that NU's new TOBA, which has been approved by Biba and the IIB, would retain its current wording on non-solicitation and would not impose a time limit on the expiry of this condition.
