Information for Insurance Agents and Brokers

General Comments About My Work for Insurance Buyers

My role in the insurance transaction is to provide advice and counsel to insurance buyers. I do not sell insurance. I do not accept commissions, fees, gratuities, gifts, or other remuneration from insurance agents or companies. I hold no direct investments in insurance agencies or companies. I will not even let insurance agents buy me coffee.

My loyalty and obligation is to my client, the insurance buyer.

I promise to deal openly and fairly with all agents and companies. I demand the same treatment.

Problems rarely “take care of themselves.” If you have a concern, issue, or problem, bring it up sooner rather than later.

The information I provide to you is accurate to the best of my knowledge. I deal with you, professional to professional.

I return phone calls and emails promptly, and hope you will do the same. At the least, please let me know that you received my message and are working on the issues.

Bid Projects

Your proposals are confidential. I believe an insurance marketplace that is fair and upfront is in the best interest of my client. I will never reveal or share any competitive information you provide to me with any other agent or company prior to receiving their proposal. I will insist that my client also holds your proposals and works confidential.

In a bidding process I do allow competing agents to review “current” policies and pricing. We believe that this puts everyone on an even playing field. Everyone knows the current year’s price. Nobody knows the bidding price when they submit proposals.

I do not give “second chances” in bids or proposals. I expect your best work up front. Discrepancies will be addressed without revealing other participant’s position.

We set deadlines in an effort to make the process work better for our client. If you are going to miss a deadline, we are better off knowing ASAP.

We do not always recommend the lowest price to our client. Any proposal you provide to us will be reviewed on the basis of coverage, price, and services offered. Our client is under no obligation to purchase insurance on the basis of price alone.

We are the insurance contact for our clients. We are hired to help them manage their insurance, allowing them to focus on other functions within their organization.

Coverage Due-Diligence Projects

My objective in insurance review projects is to ensure that my client has the best insurance program at the best price, with the best insurers, and the best agent.

My report will include comments on the work you do. In general, clients who hire me for coverage reviews are not looking to change agents. It is quite rare that I recommend such a change. However, at times I find that the work done by an agent is inferior and changes are needed.

In many cases I am also involved with the remediation of the issues I identify. Sometimes that is a matter of getting optional quotes from the current insurer. Sometimes it involves negotiating for coverage enhancements.