General Introduction and the Law: Item 4: Services of an Insurance Intermediary
The provision by an insurance broker or insurance agent of any of the services of an insurance intermediary in a case in which those services-
(a) are related (whether or not a contract of insurance is finally concluded) to an insurance transaction or a reinsurance transaction ; and
(b) are provided by that broker or agent in the course of his acting in an intermediary capacity.
This item provides exemption for services provided by persons who act as intermediaries in arranging and administering contracts of insurance. Typically, this item covers the services normally provided by insurance brokers and insurance agents.