Commercial Insurance Broker

Research and Markets: UK Commercial Insurance Distribution 2011

DUBLIN--( BUSINESS WIRE )-- Research and Markets ( http://www.researchandmarkets.com/research/3b679b/uk_commercial_insu ) has announced the addition of the " UK Commercial Insurance Distribution 2011 " report to their offering.

This report gives a comprehensive analysis of distribution in the UK commercial insurance market. It explores issues including the growth of direct insurers in commercial insurance and the acquisitions occurring between commercial insurance brokers. The report also includes data and insight into SME purchasing behavior, broker consolidation and the latest activity of the managing general agents.

Features and Benefits:

Insight into the latest issues affecting the commercial insurance market and the impact these are having on distribution. The latest data on SMEs purchasing behaviour, managing general agents and broker consolidation in the UK commercial insurance market.

Highlights:

The results indicate that SMEs are increasingly open to purchasing cover online fuelling an increase in insurance cover being provided directly to SMEs. However, there exists a clear correlation between the size of an SME and the propensity to purchase cover online, indicating the continued value assigned to brokers bespoke advice. Consolidation in the market has been muted in comparison to previous years as brokers look to reduce net debt levels and capital funding in the market remains suppressed. Acquisitions have been increasingly targeted at increasing exposure in specialist or regional markets as opposed to increasing GWP volume.

Your Key Questions Answered:

What are the past and forecasted commercial insurance distribution trends in the UK? What factors are influencing SMEs commercial insurance purchases? What have been the chief issues affecting commercial insurance distribution and what factors will affect it going forward?

Why Do I Need a Commercial Insurance Broker? - Blog Corner

A question that I am often asked by businesses is why they should use a Commercial Insurance Broker to look after their Insurances rather than obtaining on-line quotations or by using some other intermediary such as the banks. In this article I will outline the primary reasons that set Commercial Insurance Brokers apart from the rest of the purchasing channels available to business and commerce, which are as follows:

· An Insurance Broker acts independently from any Insurance Company and act at all times in the best interests of their client not the Insurer.

· Brokers have access to a wide range of Insurers and Insurance schemes which enables them to provide Insurance covers for all types of businesses at competitive premiums whilst providing the best cover available.

· A Commercial Insurance Broker will work with you, getting to understand your business and develop a risk protection programme to safeguard the business, obtaining the right Insurance cover at the most competitive of premiums. Brokers act as advisers and in the best interests of your business to assist in the protection of all the work that goes into and sustaining a business

· As a specialist, a Commercial Insurance Broker will explain clearly the Insurances available to protect the business and how they operate and explain the differences in the Insurance options that you may have, enabling you to make a fully informed decision with regard to your Insurance purchases.

· In the unfortunate event of a claim occurring, a Broker will assist in several ways. Firstly, advising on what can be claimed for. Secondly assisting in the preparation and presentation of the claims detail to the Insurer and thirdly working with you and the Insurer to make the process and progression of the claim as smooth as possible.

When choosing the Commercial Insurance Broker that is best for you and your business it is important that you ask the right questions regarding the level of service that they will provide, the experience that they have in Commercial Insurance and their particular experience in dealing with your type of business. A good Insurance Broker will ask lots of questions about your business and how it operates, enabling them to put together an Insurance Programme that that will be robust enough to meet the Insurable risks that your business is exposed to. Work with your Broker to allow them to do the best job that they can for you.

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