He said that the recommended guidelines set by the FSA and to which all authorised Lloyd’s underwriting syndicates, insurance companies, P&I Clubs, underwriting agencies and broker intermediaries must adhere have turned the accepted broking and administrative practices ‘upside down’, although nobody disputes the benefits that regulation has brought with it.

Everard suggest that one of the major changes in the industry is the fact that the majority of active Lloyd’s syndicates today have corporate backing and therefore more quantifiable security. Although they say nothing much has changed in the manner in which contracts are brokered and deals are still hammered out ‘face to face’ on the underwriting floors.

Everard Insurance Brokers trade in the 'Provincial’ marketplace. By way of agency agreements held with numerous insurance companies and underwriting syndicates at Lloyd’s of London, it seems to present little difficulty to them that they are not based in the city.

With ever more insurers setting up ‘On-Line’ quotation facilities, Roger Winter says, 'The Provincial Broker now finds that the turn around time on new business enquiries becomes quicker by the day!'