An insurance broker is an intermediary between the client and the insurer, acting for the client.  An insurance broker’s main responsibility lies in understanding you and/or your business, identifying the risks you may be exposed to, and designing an insurance program that may protect you against these risks.

Your insurance broker will, at your request, source the insurance cover that suits your needs from any of a number of local or foreign insurers.

Once your broker obtains the various quotations required, these are discussed with you and your broker will help you to select the best option.  With your instructions, cover is confirmed with insurers.  Your broker will then follow up policy issuing, and check these policies to ensure they reflect the agreed cover.

Any adjustments to the policies are handled by your broker.  When your policies are due for renewal, your broker will advise you, and guide you to ensure the cover is still adequate.  Your broker will also assist you and guide you in the event of a claim covered by the policy.

An insurance broker offers you:

• Quick and easy access to the best policies from the major companies
• Impartial advice on the coverage that is right for your needs
• The most advantageous terms available on the market
• Assistance with fast and satisfactory settling of claims

When you buy insurance through a broker you are using the services of qualified professionals who understand your needs.  An insurance broker operates independently of any insurance company, and solely on your behalf.

In addition, we have a duty of care to you, the client, defined in the Insurance Intermediaries Act 2006.

When insurers calculate their premium rating, this also includes a standard distribution cost. This essentially means that whether you use an insurance broker, or go directly to an insurer, the price is generally the same. You should bear in mind that a good price does not always reflect good value.
Using an insurance broker therefore costs you no more, and helps you to prevent uninsured losses as far as possible.

Our services based on our appointment as your insurance brokers are provided free of charge to you. We do however receive a commission from Insurers on your business we place with them.

There are certain areas where we may charge fees to a client for services which do not form part of a broker’s appointment. Such services may include assistance in claims recovery where we may not have been appointed as insurance brokers; or assistance in effecting recovery from a third party in the event of an uninsured loss.

Any fees and terms of reference will always be discussed with you beforehand.

By signing a brokers appointment form you are confirming that you have appointed a firm to act as your insurance broker within the scope of the Insurance Intermediaries Act 2006.

Managing your risk consists of taking measures to minimise the possibility of an incident. Prevention is better than cure. Clients are advised to take risk management seriously. Whether you are insured or not, an incident will cost you time and money, and potentially lead to injury or loss of life.
Risk management measures can also help reduce insurance costs. Measures taken can range from the installation of fire and/or burglar alarms, through to having adequate contingency plans in place, as well as conducting Health and Safety audits.

Please feel free to contact us about risk management – we are glad to help.