Our Services

What types of services does a broker provide?

  • Access client needs and evaluate a firm's risk profile, practice areas, risk tolerance, etc.
  • Use knowledge and expertise to determine suitable products
  • Approach the appropriate markets for the risk
  • Explain and analyze products, including language, terms, and coverages
  • Negotiate language and terms with underwriters where appropriate
  • Negotiate Price with underwriters, carriers and wholesalers
  • Execute the transaction and bind coverage (include complying with the requirements of wholesalers, managing general agents, finance companies, and state agencies)
  • Retain documentation
  • Provide claims services
  • Provide notice to carrier
  • Explain and review policy language
  • Explain the firm's options in cases of non-renewal
  • Explain the consequences of cancellation and assist where possible with reinstatement
  • Remain aware of changing trends in policy language (both broad and restrictive)
  • To varying degrees, where possible customize or draft policy language for special needs and individual circumstances
  • Remain aware of what small and large firms are doing with respect to managing risk insurance practices
  • Make recommendations concerning appropriate coverage limits relative to risk, and advise of potential coverage gaps
  • Assist the firm in renewing coverage in a timely manner
  • Maintain long-term relationships with carriers and underwriters so that the best terms can be obtained for clients