Who is this website for?
Professional clients only: insurers and reinsurers, Lloyd's managing agents and syndicates, MGAs and coverholders, insurance and reinsurance brokers, captives and captive managers, claims handlers and third-party administrators, acting for business purposes.
It is not intended for consumers, retail clients or individuals acting in a personal capacity, and nothing on it should be relied on by them. If you are not acting for a business of this kind, please do not use our services.
If you are a policyholder or claimant waiting for a claim payment, InsuranceFX cannot help with it. Please contact the insurer, broker or claims handler dealing with your claim.
What is InsuranceFX's regulatory status?
InsuranceFX is a CommercialFX brand. Both are trading names of Introvisory Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 948814).
Introvisory Ltd's FCA permissions are for arranging deals in investments and making arrangements with a view to transactions in investments. They are limited to shares, debentures, units and rights to securities, for professional clients and eligible counterparties, and to corporate finance business. Introvisory Ltd cannot hold or control client money.
You can check these details on the FCA Register entry for firm reference number 948814.
Introvisory's authorisation covers its own permitted activities only. It does not extend to the currency and payment services of the providers we introduce, which are regulated under each provider's own authorisation.
Which InsuranceFX services are regulated, and which are not?
Our introductions for spot currency conversion and international payments are not regulated activities. They are not covered by Introvisory's FCA authorisation, and the FCA status above should not be read as covering them or the providers' services.
| Service | Who provides it | Regulatory position |
|---|---|---|
| Blind quotes and introductions for spot conversions and payments | InsuranceFX, through Introvisory Ltd | Not a regulated activity |
| FX cost reviews and rate creep checks | InsuranceFX | Not a regulated activity |
| Switching support and provider due diligence facts | InsuranceFX | Not a regulated activity |
| Currency conversion, payments, accounts and safeguarding | The provider your firm chooses | Regulated by the FCA under the provider's own authorisation as a bank, payment institution, e-money institution or investment firm |
| Arranging, advising on or placing insurance | Not provided by InsuranceFX | InsuranceFX does not carry on insurance distribution |
| Holding or controlling client money | Not done by InsuranceFX | Your firm's own client money arrangements and the provider's safeguarding apply |
InsuranceFX introduces firms for spot currency conversion and international payments only.
Is InsuranceFX an insurer or an insurance broker?
No. InsuranceFX is not an insurer or insurance intermediary and does not arrange, advise on or place insurance.
Our clients are firms in the insurance market. We help with the currency side of what they already do: premiums received in US dollars, euros and other currencies, claims paid overseas, reinsurance premiums, recoveries and cash calls, and captive funding. We have no part in placing risk, handling claims or deciding cover.
We do not offer insurance for forex traders or cover against currency losses, which is what searches for fx insurance often mean. InsuranceFX is a UK introducer for FX and international payments in the insurance market and a CommercialFX brand. It is not connected with any insurance agency of a similar name.
We are not part of Lloyd's and have no role in its central accounting and settlement. Where we mention Lloyd's or its FX service we do so only to describe it, and nothing on this website implies any endorsement by Lloyd's.
Does InsuranceFX give advice?
No. We give facts and comparisons, not advice on which provider or product your firm should use.
Our guides explain how FX and payments work in the insurance market in general terms. They are not advice about your firm's circumstances and do not take account of its objectives, risks or contracts. Decisions about which provider to use, what to convert and when are for your firm. Where a page includes a worked example or a calculation, it is an illustration using stated figures, not a promise of what you will pay or save.
Some subjects need your own advisers. We describe rate of exchange and currency conversion clauses but never interpret the wording in a policy, treaty or binder. We set out the client money questions to ask but do not answer them for your firm. We do not advise on accounting or reserving in other currencies.
The provider screens each payment against sanctions lists. Your firm keeps its own sanctions obligations as an insurer, broker or claims handler, and our service does not replace them. The Office of Financial Sanctions Implementation publishes the UK guidance.
Does InsuranceFX hold client money or make payments?
No. InsuranceFX never receives, holds or routes client money, never makes or instructs payments and never sends or changes payment details.
Your firm contracts directly with the provider it chooses. The provider carries out its own know-your-customer and sanctions checks, executes conversions and payments, and safeguards money under its own FCA authorisation. InsuranceFX does not collect or store KYC documents.
If your firm holds client money, how money moves between your client bank account and an FX provider is a question for your compliance officer and CASS auditor. CASS 5 generally requires client money to be held in a client bank account at an approved bank, and risk transfer arrangements change the analysis, so each firm must check its own position against CASS 5 in the FCA Handbook. Our guide to client money and FX sets out the questions to ask.
Who carries out the transactions?
Providers authorised by the FCA as banks, payment institutions, e-money institutions or investment firms. We will name them here with their firm reference numbers once agreements are signed and each has agreed how it is described.
We check each provider's authorisation on the FCA Register before any introduction and recheck it at least once a year and on any adverse news.
Blind quotes are indicative until your firm has been onboarded by the provider and has passed its checks. The provider's own terms of business apply to every conversion and payment, including its cut-off times and charges.
How is money held by a provider protected?
By safeguarding, not by the FSCS. Money held by a payment or e-money institution is safeguarded under FCA rules, and the FSCS does not cover payment or e-money services.
Safeguarding means the provider either keeps customer money separate from its own, usually in a segregated account at a bank, or protects it with an insurance policy or guarantee. The FCA's new safeguarding rules for payment and e-money institutions, in CASS 15 and set out in policy statement PS25/12 published on 7 August 2025, took effect on 7 May 2026. Argentex LLP, a non-bank FX provider, entered special administration on 21 July 2025. Before your firm chooses a provider, ask how it safeguards money and with which bank. We record what each provider tells us, but we cannot promise that any provider is safe.
Deposit protection at banks, up to £120,000 per eligible depositor since 1 December 2025, does not cover insurance and reinsurance undertakings or most other financial firms. How it applies to money in a broker's client bank account is a question for your compliance officer. Client money, CASS 5 and safeguarding
How is InsuranceFX paid?
By the providers, not by your firm. The provider you choose pays Introvisory a share of what it earns on your conversions, which is part of the provider's rate rather than a separate charge to you.
We explain how this works before you choose a provider, show you every quote we receive and keep a record of why each provider was matched to your firm, separately from what it pays us. If a captive manager, broker or other firm referred you to us, we may share our fee with them, and we will tell you who and on what basis before you choose a provider. How we are paid
Can complaints about InsuranceFX go to the Financial Ombudsman Service?
In most cases, no.
The Financial Ombudsman Service can only consider complaints from eligible complainants, mainly consumers, micro-enterprises, small businesses, small charities and small trusts, and only about activities it covers. Most insurers, reinsurers, managing agents, captives and larger brokers will not be eligible, and our introduction service is not a regulated activity. Our complaints page explains how we handle complaints and where to go next.
Is there anything else we should know?
Information on this website is given in good faith and checked on the date shown on each page, but rules, cut-off times and prices change.
Please check anything important with us or the provider before relying on it, and check anything about Lloyd's arrangements with Lloyd's directly. Our terms of business apply to our services and to use of this website, and our privacy policy explains how we use personal data.