What do insurance brokers do?
 Insurance brokers are experts in the fields of personal and commercial
(business) insurance. They represent the interests of insurance
customers and advise people on their best insurance options. As
front-line professionals, they ensure that their clients are adequately
covered for their needs and help their clients manage their risk.
The sale of insurance is regulated to ensure consumers are protected.
Regulations require insurance brokers to be licensed, to maintain
high professional and ethical standards, to stay current with new
developments in the industry through continuing education, and
to hold the interests of the customer paramount in all aspects
of sales and services. In this way, consumers can be confident
that brokers are selling them the insurance product best suited
to their needs.
General insurance brokers:
- Provide automobile, property, liability, marine, aircraft
and other types of insurance to their clients
- Recommend and implement a client’s insurance coverage,
premiums and method of payment
- Provide information on varying insurance packages such
as risk coverage, benefits and other policy features
- Work with clients to manage and reduce their risk
- Respond to emergencies and assist clients with their
claims
Property and casualty insurance brokers generally
operate in one of two areas: Personal lines and commercial lines.
Personal lines insurance involves client’s personal homes,
vehicles, recreational property, pleasure boats and other recreational
items. It is primarily concerned with the risk individuals and
families face in their day-to-day lives. Brokers who deal in personal
insurance generally operate out of an office and have their clients
meet them there.
Commercial insurance ensures businesses are covered for risks
facing their operations; such as fire, professional liability,
business interruption and errors and omissions. Commercial accounts
are almost always larger than personal lines accounts. Much of
the work in this area is done outside of the office. Because of
the deep understanding of the complexities of business required,
many commercial brokers are specialists in certain industry sectors.
Insurance brokers are professionals and trusted advisors who represent
the interests of their clients first and foremost.
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