Risk is inherent in the modern working environment – an unavoidable consequence of running a business in the 21st century. All organisations are forced to deal with various challenges and risks that threaten their performance, many of which they face daily.
While there are numerous methods that organisations can employ to protect themselves, for most companies, insurance invariably forms a key component of their overall approach towards managing their exposures.
Critical to this is the performance of your appointed insurance broker. They are your spokesperson and your exclusive representative in the marketplace. Their ability to leverage your interests with insurers is key to ensure your insurance capital is invested wisely.
They are a key contributor to your organisations long-term security, helping protect against potentially crippling financial losses should a major catastrophic event (or series of events) ever occur.
Indeed, the interconnection between your broker’s performance and your insurance program is irrefutable. The premiums you pay, the cover you maintain, the benefits you enjoy, the claims service you receive, and the overall strength of your insurance program is directly linked to their performance.
So, with insurance being a significant overhead for most organisations, it makes sense to ensure you are working with the right broker and making the best use of your investments in insurance.
The question is: how can you be sure that you’re working with the right broker, and how can you be sure that you are getting the best deals from insurers in the market? Our Request for Proposal (RFP) process can help answer these critical questions and more. It is an extremely effective and uncomplicated solution for any organisation looking to review their existing insurance arrangements and receive maximum returns on their investments in insurance.
Blog Submission: Peter Sellwood
PALTD InsureRight – Insurance & Risk Management
Contact us today to speak to our insurance specialists for more information.