Advice for selecting the right insurance broker
An
UK and Ireland Insurance product story
Edited by the Engineeringtalk editorial team
Sep 2, 2004
Thousands of UK engineering companies are wasting money by using the wrong type of insurance broker, claim experts from the industry.
Buying insurance in today's market is a complex and time consuming task and there are more people than ever in the insurance business.
A carefully selected broker can deliver great value to a business but choosing the wrong one can be an expensive mistake.
UK and Ireland Insurance Services, the business insurance specialist, has compiled its top five tips to consider when choosing a broker: ensure the broker has good knowledge of what is happening in the market; look for a specialist, as many companies only offer a general service; a good broker should be able to explain complex issues in plain English; the broker should have some good references to draw on; the broker should ask lots of questions about the business to understand its needs.
Martin Nugent, at UK and Ireland Insurance Services, says: "Getting the right broker is as important as getting the right insurance.
"It's important to shop around and not just go for the first one you find".
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