An Insurance Broker is a specialist in insurance and risk management. Insurance broker act on behalf of their clients and provide advice in the interest of their clients.
Sometimes an insurance broker will act as agent of an insurer, but where this occurs the situation should be fully explained to you.
A broker will help you identify your individual and/or business risks to help you decide what to insure, and how to manage those risks in other ways.
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An insurance broke might specialise in one specific type of insurance or industry, or they might deal with many different types. It can give you technical advice that can be very useful if you need to make a claim. Brokers are aware of the terms and conditions, benefits and exclusion and cost of a wide range of competing insurance policies, so they can help you find the most appropriate cover for your own circumstances.
Brokers can help arrange and place the cover with the choser insurer and can often provide advice on how to make the most of your insurance budget.