choice is not available to those policyholders who use the services of
an insurance agent. Current regulations restrict insurance agents so
that they can only represent a maximum of two (2) insurance companies.
This limits policyholders to products that the particular insurance
company chooses to offer via that particular insurance agent.
Furthermore, the policyholder is not likely to be privy to information
as to the existence of more suitable, flexible or competitive products
available from the various other insurance companies in the market.
Intimate Market Knowledge
As an insurance broking firm, we work closely with many insurance companies on a daily basis to arrange or modify coverage for our clients as well as to assist our clients with the settlement of claims. Working so closely with the different insurance companies gives us an intimate knowledge of the unique strengths and capabilities of the different insurers. We use this knowledge to identify which insurance company is best fit for any given client’s unique needs.
Bulk Buying Power
Not surprisingly, insurance companies look upon us as a bulk buyer of insurance from them. On a collective basis we control a substantial volume of insurance premiums. Our bulk buying power enables us to buy insurance coverage at very competitive terms.
Naturally, we have considerable influence with the insurance companies when we negotiate for suitably broad insurance terms or for the most advantageous claims settlements on behalf of our clients.