HIVE Underwriters Achieves Direct FCA Authorisation - A Milestone in Growth and Compliance
HIVE Underwriters’ Chief Operating Officer, Crispin Marsland-Roberts explains more about the company’s recent milestone of achieving direct Financial Conduct Authority authorisation. In this Q&A, Crispin discusses what this means for HIVE, their partners, and their ongoing commitment to high standards of governance and risk management.
Q: How does achieving direct FCA authorisation reinforce HIVE’s commitment to compliance and regulatory standards, and what does this mean for your business relationships with brokers and carriers?
Achieving direct FCA authorisation is a significant milestone that enhances HIVE’s reputation and credibility. It demonstrates to the FCA—and to the market—that we adhere to stringent regulatory standards and maintain a high level of transparency across our operations.
While this recognition underscores our commitment to compliance, it won’t directly impact our day-to-day relationships with brokers or carriers. Our operational approach and collaborative ethos remain unchanged, but the authorisation affirms the diligence and robustness of our business model.
Q: What changes, if any, will this direct authorisation bring to HIVE’s operational processes, and how will it enhance your service offerings for clients and partners?
Since our inception in 2017, HIVE has operated with a strong framework of policies and procedures, so this milestone required refinements rather than an overhaul. The primary change is that we now report and liaise directly with the FCA rather than through our Appointed Representative Principal.
This direct relationship allows us to further strengthen our governance processes and ensures that we remain agile in adapting to regulatory updates. For our clients and partners, it reinforces the trust they can place in us as we continue to deliver a seamless and compliant service.
Q: How does this milestone reflect on HIVE's growth and its ongoing efforts to maintain high standards of risk management, governance, and transparency?
Securing direct FCA authorisation has been a clear corporate objective for HIVE. While operating under Svalinn as an Appointed Representative allowed us to focus on building and growing our underwriting intermediary, obtaining direct authorisation reflects our readiness to take full responsibility for our operational outcomes.
Direct FCA authorisation marks a new chapter for HIVE Underwriters, reinforcing our standing as a trusted and compliant player in the insurance market. This achievement showcases HIVE’s readiness to meet evolving regulatory demands while maintaining robust relationships with brokers, carriers, and clients.
This milestone signals our independence and commitment to sustainable growth. It underscores our dedication to conduct and regulatory compliance and positions us as a credible and forward-thinking partner within the market.
Further reading: https://www.hiveuw.com/news/nyf7bhgdvfb566lw8dl71s349uqi3a
