Some Important FAQ's
Common Frequently Asked Questions
A: An Insurance Broker (IB) by virtue of being a professional is better qualified to provide you with solutions and/or advice on technical insurance matters. An IB is also liable to you, the client by virtue of an appointment.
A: Both are intermediaries. However an Insurance Broker (IB) by virtue of appointment represents their clients whilst an insurance agent represents their principals which are Insurance Companies. An IB would thus be able to deal with any insurer/reinsurer locally or globally to ensure that you get the coverage as per your requirements
A: Most appointments do not incur any consultation fees. However there are circumstances where the appointment is specifically for consultancy only whereby an agreed fee will be payable.
