National Insurance Brokers Association (NIBA), CEO Dallas Booth said, “This is a classic example of the value provided by insurance brokers to individuals and small business owners. By and large, insurers only provide ‘general advice’, which does not take account of the specific needs and circumstances of the policyholder…”Read the full report
The report finds that brokers save each client an average of 11 hours, equating to more than $230 million in time savings for business customers.
‘Brokers provide disaster relief, advocacy and policy advice by supporting clients with claims preparation, assessment, lodgement and negotiation processes.
They also help obtain insurance for difficult-to-insure clients – a critical service in the current hard market … brokers enable market efficiency by reducing uncertainties for insurers and closing information gaps – thereby allowing for more appropriate pricing and product matching, and encouraging greater competition’ … Read the full report
“Insurance is an essential component not just to doing business safely, but to doing business at all.” Read the full article
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