Happy With Your Insurance Broker?

Are they easily contactable?  Do you get answers to questions quickly? Communication is one of the most important factors in any business especially the insurance industry where decisions and actions have to be taken very quickly.  Any delay can cost you an order or a contract Problems can arise at any time, 24 hours a day, seven days a week and if you are in business you need that backup.  Emergency numbers to contact the broker should be available and displayed on the brokers website and a senior person from the brokers should be contactable.  The broker, in turn, should be able to contact a loss adjuster out of normal hours should it be required in order to react to a claim which in turn can reduce costs to the benefit of the insured and the insurer. A broker is normally able to give advice on many subjects concerning business. If they are unable to provide the answers themselves they should be to obtain the answers or guide the client to someone who can.  There are other facilities that a broker can provide with the assistance of the insurance industry as a whole. Brokers can play an important role for exporters by providing marine cargo insurance and stock cover in other countries.  In Some countries buyers require proof of public and products liability insurance and many insurers will exclude cover in North America.  A vendor’s agreement and an acord form, the latter providing proof of cover in the USA is also required.  This will give the UK insurers NAICS number (North American Industry Classification System) is the standard used by Federal statistical agencies in classifying business establishments in the USA and replaces the SIC code.  It also states the limit of indemnity in US dollars.  Brokers have to be international in the contracting world as business gets more demanding. Another important activity of a broker is to stress test the insurance cover establishing the highest risk and being able to cope with the fallout.  The main aim is to be able to continue in business and not have to wind up your Company.  It is a fact that 80% of all businesses suffering a major loss are under insured or have their claim declined. More than 40 per cent of businesses affected by The Manchester bombing went out of business, Never to return (reference Expecting the Unexpected issued by London First). Beware of brokers cost cutting, you must have value for money but cover must be correct and fully able to respond in the event of a disaster.  Having a suitable insurance plan is not like searching for components or packaging for your business.  It is a fallacy to think you can obtain more competitive quotations by going out a large number of brokers.  Select about two professional brokers and instruct them to fully review your business and provide recommendations for cover. Your broker should also inform you of cover you may require and have not taken out (demands and needs).  You do not have to take out everything you are advised to cover but you should be aware of the areas you are self insuring.
The basis of any action a broker takes is known as treating customers fairly.

To discuss your insurance or if you have any queries call us on 01707 883377 or email us on info@bromwall.com


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01707 883 377 | info@bromwall.com

What our customers say...

  • I’d just like to convey my thanks for the excellent job, it is so refreshing to find a company that is genuinely passionate about its customers.

    John Grainge | Islington, London

  • Bromwall and especially David have been so helpful and supportive – always making the effort to contact me and ensure I was fully informed and, had completed all the necessary steps in the process.

    Paul Bridgewater | PB Systems, Leeds

  • I have yet to find another insurance broker, in my years dealing with the top names in the industry, who offers Bromwall’s personal service, professionalism & expertise. I would happily recommend Bromwall to everyone who has high net worth and complex business insurance requirements.

    Louise Daniels | Lion Enterprise, Manchester

  • For a variety of both motor and household briefs as well as for demanding professional activities, Bromwall Ltd have consistently delivered the most competitive quotations to us, along with a very personal and exacting service. We would not hesitate in fully recommending Bromwall for any matter relating to insurance.

    Dom Turner | Fizz IT, Norwich