Mar 27, 2009
INSURANCE RISK, WHAT SHOULD A COMPANY EXPECT AND WHAT IS GOOD SERVICE FROM AN INSURANCE BROKER?
As a CFO, one of our roles is to analyze, understand and control the costs and risks associated with a company's insurance. This can be a main contributor to a company's cash position or lack of cash.
During the course of my travels as a CFO, one of the key assessment risks questions I ask is "what do you like about your current insurance broker". The majority of the time I hear, "the service that they provide". I then press the client and ask what service they provide to your liking. Again the majority of the time the answer received is "they provide me with renewal quotes and issue my certificates". This is not service, this is their job.
As the CFO, below is a partial list of what services I believe a company should receive from an insurance broker:
These are but a few of the items that I would expect as the CFO and consider good service from an insurance professional. Just as other service providers are an integral part of your business, so is your insurance professional.
If you are not receiving these services you should!
I have used and recommended Jeff Egenberger, a Senior Broker at Johnson & Wood Insurance Services, Inc. He has been an independent broker in North San Diego County for 16 years. He can be reached at email@example.com or (www.johnsonwood.com)
At B2B CFO® we genuinely care about our client's success and we want each and every one of our clients to realize their dreams.
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