Look beyond the headline number of insurer agencies. The question is whether the network can support the business you actually place.
Does the network have agencies with the key insurers you need to trade?
Can you access specialist, wholesale or London market routes when standard markets are not enough?
Are you able to speak directly to underwriters when that adds value?
How strong are the network’s insurer relationships when you need flexibility or senior escalation?
Ask for the agency list that is relevant to your existing book, not just the total number. Speak to underwriters you already know and ask how they view the relationship.
A broking team is only useful if it has the capacity, expertise and working model your clients need.
What is the size and capability of the broking team?
Does the team have specialist expertise relevant to your client base?
How are urgent quotations, renewals and difficult placements prioritised?
If you have niche expertise, can you retain direct control of those placements where appropriate?
Give the network examples of difficult risks from your current book. Ask who would handle each one, how they would approach it and what happens if the expertise does not sit internally.
Understand what happens when a claim moves beyond routine chasing and becomes technically or commercially difficult.
What claims support is included as standard?
Does that support extend to complex claims, disputed decisions or declinatures?
Who handles technical queries and insurer escalation when a claim becomes difficult?
Is the claims support delivered by experienced internal specialists, a third party, or a combination of both?
Ask who you would call if an insurer declined a significant claim tomorrow. Find out what technical expertise and escalation routes would actually be available.
The Principal carries regulatory responsibility, but the day-to-day support you receive can vary significantly between networks.
What day-to-day compliance support is available when you have a question or difficult case?
How are file audits handled and what practical support follows any issues identified?
How does the network keep you informed and supported when FCA requirements or internal policies change?
What training, CPD and first-line regulatory support is included?
Ask to see how the compliance relationship works in practice: who you contact, how quickly queries are answered, what audits look like and how remedial actions are supported.
The systems behind the brokerage affect everything from client servicing to cash flow and how much administration you need to carry yourself.
What broking system will you use, and will your office be set up and branded for your business?
What training and first-line system support is available when something goes wrong?
Who handles client money, premium collection and premium finance arrangements?
What operational or administrative support is available for tasks such as invoicing, data entry, claims chasing or call handling?
Ask for a walk-through of the systems and operational workflow. Be clear on what is included, what is optional, what is outsourced and what carries an additional cost.
Independence is not just about owning a company. Check who controls the client relationship, the book and the key decisions around placement.
Who owns the clients and the value of the book you build?
Does the network ever communicate directly with your clients, and if so, in what circumstances?
How much control do you retain over placement decisions and your relationships with underwriters?
What happens to your clients if you are temporarily unable to run the business?
Read the contract rather than relying on headline wording. Ask specifically about client ownership, direct client contact, placement control and continuity arrangements.
A headline commission split tells you very little on its own. Compare what sits inside the network’s share and what you will pay for separately.
What is the commission split and can it change as your business grows?
Which services are included within the network’s share and which carry additional charges?
What fixed costs, software fees, joining charges or optional support costs should you budget for?
How are insurer profit shares, premium finance income or other additional revenue streams treated?
Build a simple like-for-like cost comparison. Include the commission split, fixed fees, systems, optional support and any income streams retained by the network.
The support may look attractive at the start, but the contract also needs to work if your plans change later.
What is the initial contract term and notice period?
Are there exit fees, repayment clauses or restrictions affecting the clients you have built?
What happens if you later want to move to another Principal or become directly authorised?
Do funding or enhanced commercial terms change the contract length or your ability to exit early?
Ask for the actual agreement early in the process. Pay particular attention to notice, client ownership, repayment obligations, restrictive clauses and what happens on a move to DA.
For a start-up or growing brokerage, the value of the network can extend well beyond compliance and market access.
Is funding available if you need support with first-year cash flow or growth?
How is any funding structured, repaid and linked to the contract?
Is wider mentoring available on areas such as recruitment, technology, governance and operational efficiency?
Will the network help you work through a realistic business plan, cash-flow model and growth assumptions?
Understand both the money and the support around it. Ask what funding is available, what triggers repayment, whether equity is involved and what practical guidance continues after launch.
A good proposition still needs to translate into a workable route from your current position to trading under the new network.
What does the onboarding process look like from agreement to being ready to trade?
Who supports the FCA application, permissions and regulatory setup required for your business?
How are your systems, insurer access and operational setup coordinated before launch or transfer?
What support is available when working through restrictive covenants, agency transfers or other transition issues?
Ask for a realistic onboarding plan with dependencies and responsibilities. If you are moving from employment or another Principal, identify the issues that could delay launch early.
Your checklist summary
Work through the questions above to build your due-diligence summary.
Questions to take back to the network
Anything marked Need to verify or Potential concern is collected here so you have a practical follow-up list for your next conversation.
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