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Insurance Business | 20 Feb 2018, 04:15 AM Agree 0
Major insurer looking to even up its direct and intermediated SME business, should brokers be worried?
  • Robert Cooper | 20 Feb 2018, 11:19 AM Agree 0
    That is all very well, but the SME community needs to know that direct insurers will not give any advice to them. They will only promote the good parts of their policies, not their weaknesses, and they are beholden to the decisions of that insurer come claims time. Who will be their advocate then? FOS? For most clients, having someone accessing the whole market to find them the best deal saves them time and even money. They have the added protection of an Insurance Broker's duty of care in making sure they find the most appropriate cover for their risk and providing the right advice. Us Insurance Brokers need to hit back with our own campaign about the importance of using an Insurance Broker, no matter how big or small your business is. It is like an SME doing their own tax, give the responsibility to an Accountant because you are not going to know all the tax laws yourself. Go to a qualified medical practitioner rather than google your symptoms. Want a Risk and Insurance expert that will find the best deal they can? See an Insurance Broker.
    The Insurance Broker role for any SME is vital for so many reasons.
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