Insurance brokers is professional in the area of risk management and insurance. They can offer assistance with which insurance plans to look at, offer you information regarding the different offers, help you identify your risks and how to manage it. Then, they can help you search for the right plan that will suit your requirements. The technical advice they can offer you will surely be useful when deciding which company and insurance plan you want to buy. Brokers should know what all terms and conditions are and help clients accordingly, at times mistakes can be made. This can be a great risk not only to the employee, but also to the company. There are always risks and brokers should be very careful when working with clients.
Risks involving following a insurance broker career:
- Faulty advice
- Terminations or cancellations of insurance plans
- Terms and condition misconduct
This can result in law suits or disputes that may costs thousand or even millions. This is why professional indemnity insurance is definitely something to consider when you own an insurance company with brokers.