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Are brokers publically championed enough?

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Insurance Business | 03 Sep 2012, 12:00 AM Agree 0
NEW POLL: Public research polls suggest that the reputation of brokers is not befitting the professional services they provide, so are industry associations doing enough to change that? Vote now…
  • George Chabvonga | 03 Sep 2012, 11:37 AM Agree 0
    It is not hard to understand why Insurance Brokers are not trusted, human beings are naturally inclined to avoiding expensive services and this often happens with Insurance. When the time to claim comes the insured forgets that they chose cheap insurance cover to save on premiums. It is at that stage that the blame game starts with the Insurance Brokers and Insurers often facing the brunt of angry uninsured or underinsured clients. You cannot "eat your cake and have it", if you choose to have limited cover then you will get paid to the extent to which you requested insurance cover. It is high time that we took responsibility for our actions and not expect to be rewarded on sympathetic grounds when disaster strikes. Having said all this the Insurance Brokers have an obligation to ensure that they provide the best advice to their clients and trust me this is a highly regulated industry and the consequences of moving out of line are nasty, thus to be avoided at all costs.
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