An insurance broker can help you understand your risks, compare available insurance options and arrange cover that reflects the way your business operates.

Rather than looking only at price, a broker can help you consider differences between policies, including:

• Limits of cover
• Excesses
• Exclusions
• Policy conditions
• Optional extensions
• Insurer appetite
• Contractual or licensing requirements

Understanding your business #

A broker will generally start by understanding what your business does, including your services, turnover, staff, contracts, property and other relevant exposures.

This is particularly useful for businesses with specialist activities or risks that may not fit comfortably within standard online insurance products.

Access to different insurers #

Insurance brokers can approach insurers and underwriting agencies that may not deal directly with the public.

This can be particularly valuable for:

• Professional services businesses
• Construction-related risks
• Specialist occupations
• Businesses with unusual activities
• Businesses with previous claims
• Higher-risk or harder-to-place insurance

The insurers available will depend on the type of insurance and the broker’s market access.

Help comparing policies #

Two insurance quotes with similar premiums may provide materially different cover.

A broker can help explain those differences and identify issues such as exclusions, excesses or conditions that may be important to your business.

Claims assistance #

A broker can also assist when a claim arises by helping you:

• Notify the insurer
• Provide the information required
• Understand the claims process
• Communicate with the insurer or claims handler
• Understand how the policy may apply

The insurer ultimately determines whether a claim is covered under the policy, but having a broker involved can make the process easier to manage.

If you would like assistance reviewing or arranging insurance, contact our team.