Becoming our Producer
Directors & Officers Liability
To become our Producer
If you are interested in becoming a business producer for MIB Insurance Agency you may opt to operate as one of the following:
Tied Insurance Intermediary
The function of a Tied Insurance Intermediary (TII) (previously referred to as sub-agents) is to carry out insurance activities ordinarily carried out by intermediaries for and on behalf of the Agency in return for agreed remuneration in the form of commission. A TII must be officially enrolled by the Malta Financial Services Authority (MFSA) and a representative of the Agency will provide full assistance in the completion of the relevant Application Form that is requested to be sent to the Authority.
Prospective TIIs will be required, amongst others, to:
complete a basic insurance course carried out by the Agency itself. A Certificate of Completion will be issued to each prospective TII upon course completion,
provide a copy of their school leaving certificate,
provide a copy of their police conduct certificate and
provide a copy of its Memorandum and Articles of Association which is to include a clause noting the activities of the proposed company as a TII – this is necessary only where a company (rather than an individual) is applying to become a TII.
The Agency will provide insurance management software and ICT support in order to facilitate the management of the TII's portfolio.
Travel Insurance Representative (Travel Agent
The function of a Travel Insurance Representative (TIR) is to sell solely travel insurance on behalf of the Agency in return for agreed remuneration in the form of commission. A TIR does not need to be enrolled by the MFSA.
The Agency will be in a position to provide the prospective TIR with an IT computer link system in order to facilitate the administration of the travel insurance business being generated.
The function of a Business Introducer is solely to introduce prospective policyholders to the Agency in return for an introducing fee. An introducer does not need to be enrolled by the MFSA.
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Terms, Conditions and Policies