WHO IS AN INSURANCE BROKER
A professional advisor who specializes in risk management and insurance is known as an insurance broker. They work for their customers, not insurance companies, and can be trusted to offer knowledgeable counsel and direction that is in your best interests.
BENEFITS OF A N INSURANCE BROKER.
Brokers use their expertise to highlight areas of coverage that you may not have considered but could jeopardize your business.
Brokers can find the best insurance coverage and services for you, so you can focus on what matters most: growing your business.
The broker's role does not end after the policy is purchased. Brokers continue to provide valuable day-to-day services while monitoring the adequacy of coverage limits and policy terms as market conditions fluctuate.
INSURANCE BROKER.
In the event of a claim, the broker will help resolve the claim as quickly and efficiently as possible. Brokers can use their relationships with insurance companies to ensure they get the best insurance at the best price.
Brokers act as advisors and advisers to help you make the right decisions for your business. For example, the Professional Compensation Policy requires you to notify your insurance company if you become aware of a claim against you related to your employment, or if you become aware of anything that may give rise to a claim. Brokers can provide valuable advice and guidance on whether a claim or condition should be reported to an insurance company.
WHERE TO FIND A BROKER.
Like other professionals seeking advice, such as doctors, lawyers and accountants, brokers are highly qualified and undergo years of training and practical training to obtain and maintain these qualifications.
The insurance broker's benchmark is to obtain the Qualified Practice Insurance Broker (QPIB) designation. This is only awarded to a broker who has an Insurance Broker Diploma and has more than 4 years of broker experience.
QUALIFIED PRACTISING INSURANCE BROKER.
To maintain QPIB designation, brokers must earn ongoing professional development points each year. This keeps you abreast of emerging risks and threats and new legislation affecting insurance. In short, insurance brokers know their stuff, have a professional drive to keep improving and growing, and can be trusted to provide excellent, objective advice on insurance and risk matters.
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