Choosing and Using an Insurance Broker
- Price: £3.60
- Published: March 2016
- Type: Business Information Factsheet
- Format: PDF
An insurance broker acts as an intermediary between a business and different insurance providers. Insurance brokers analyse general and commercial insurance needs, and advise business owners and directors on the most suitable policies for their particular circumstances. A good broker should have broad and up-to-date knowledge of the insurance sector, contacts with a variety of insurance providers, and be able to help consider the most appropriate cover for a particular type of business. It is important to choose a broker who understands the business and its sector, and any particular risks and requirements, in order to arrange the most suitable and affordable cover.
This factsheet explains the services that insurance brokers provide, as well as the issues that should be considered when selecting and briefing a broker. It also identifies how to find a reputable broker and suggests ways of resolving any problems that may be encountered with a broker.