Select Risk Management Consulting, Inc.

WE DO NOT SELL INSURANCE, WE PROVIDE SOLUTIONS... 631.683.4060
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But, I have a Broker
 
There are many excellent professional insurance agents in the marketplace, many of them keep your best interests in the forefront. You can remain with your current broker or agent or consider other options.
 
If you  recognize any of the following issues, you may want to consider using an independent consultant:
 
  • Human Nature and Business Goals sometimes conflict with your best interests.
 
  • Insurance Companies pay commissions ranging from 4% to 20%.
 
  • Insurance Companies pay "profit sharing" based on the premium volume placed with them and the resulting overall loss ratios.
 
  • Your agent does not release timely updated complete loss runs to you when requested.
 
  • You want an objective opinion from a source not receiving commissions and "profit sharing" income  from the product chosen for you.
 
  • You want to use a consultant to get an independent review of a long-standing relationship you do not want to disturb due to business, social or family relationships.
 
  • It is difficult to get a competitive bid, when your current agent controls the bid process, due to the inherent conflict of interests. Why would your agent want to create competiton from a second broker? A consultant will create competition based on uniform insurance specifications created for you.
 
  • Loss control and "risk transfer" programs are not being discussed.
 
  • Your certificates of insurance are late or incorrect and delay your project and payments.
 
  • Your growth may have outgrown the services your agent can supply.
 
  • The current broker may "block" the marketplace by sending submissions to most of the insurance carriers that write your class of business. This prevents the competing broker from obtaining a quote from these insurance carriers. When your agent requests proposals from many markets, you should see each request with your renewal proposal? 
 
  • Your controller, bookkeeper, office manager or owner does not have the time, inclination or expertise to to devote to the "Risk Management and Insurance" Renewal Process.
 
  • Your business is not large enough to have a full-time Risk Manager on staff, but you would like to use the services of a Professional Risk Management Consultant for a brief period of time.
 
  • You do not want to spend unnecessary time with multiple agents discussing the same issues, answering the same questions, copying the same policies and providing the same information over and over in a series of meetings, emails, faxes and telephone calls.
 
  • You do not want to be a referee between competing agents' proposals, each using technical jargon.
 
  • You are being asked to sign "Broker of Record" letters for insurance companies because the renewal process is random and unmanaged.
 
  • You are not being made aware of drivers with poor motor vehicle reports until they have an accident.
 
  • Your loss reserves are not being monitored.