Terms of Business Agreements (TOBAs)

The IUA, in cooperation with the London & International Insurance Brokers Association (LIIBA), has published model Terms of Business Agreements (TOBAs) that may be used to govern the conduct of business between company market insurers and brokers. Both a Non Risk Transfer Terms of Business Agreement (NRT TOBA) and Risk Transfer Terms of Business Agreement (RT TOBA) were updated in 2018 to reflect the General Data Protection Regulation (which comes into effect on 25 May 2018) and the Criminal Finances Act 2017 (already in effect). 

Non risk transfer agreements:
NRT TOBA Endorsement Data Protection
NRT TOBA Endorsement Financial Crime
NRT TOBA with tracked changes

Risk Transfer Agreements:
RT TOBA 2018
RT TOBA with tracked changes

Explanatory notes:
The NRT TOBA endorsements have been produced for use with the NRT TOBA 2011 (as amended in May 2013), so that form of agreement can be updated by endorsement as an alternative to entering into a new TOBA. Please note that if you are updating an agreement which varies from the model 2011 agreement, then the endorsements may need to be appropriately tailored (e.g. as to clause numbering).
We have not produced model endorsements for use with existing RT TOBAs. This is because we understand that some firms with risk transfer arrangements have TOBAs dating from 2005, which may or may not have been endorsed subsequently. There is a risk that new model GDPR and CFA endorsements would not tie in with the actual underlying arrangements. However, for firms which wish to amend older TOBAs, the CFA and GDPR amendments are all contained in Sections 8 and 9 of the new 2018 TOBAs. Therefore, subject to appropriate tailoring, Section 8 and Section 9 of the 2018 TOBAs may be used in their entirety as addenda to existing TOBAs. (The RT TOBA 2017 mentioned above is the amalgam of the RT TOBA 2005 and earlier endorsements.)
We have made some further changes to the RT TOBA 2018 so that, apart from the operative risk transfer provisions in Section 6, the remainder of this agreement aligns to the NRT TOBA 2018 and also includes the deletion of some termination wording in clause 24, Force Majeure, as this was not present in the NRT TOBA, nor the LMA versions (these changes can be seen in the RT TOBA mark-up listed above).
As with all model agreements, these are published to assist the market, and firms may tailor them according to their own particular arrangements.