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The Benefits of Working with a Professional Risk & Insurance Adviser

  • Emma Tyler
  • January 8, 2024

Running a business takes most of a manager’s and owner’s time, who depend on key suppliers, accountants and other professionals to provide timely advice.

A professional risk and insurance adviser understands your business, the changing risk landscape and industry trends. They provide financial security, as well as saving you time in researching and understanding the numerous insurance options available.

A professional risk and insurance adviser provides the right mix of insurance, coverage and excesses to meet your budget and needs.

An insurance adviser is a valuable resource for individuals and businesses alike, providing professional guidance and support when purchasing insurance, as well as making a claim.

1. Unmatched Expertise

You and your business and immediately benefit from a licensed, qualified professional, who possesses extensive risk management and insurance knowledge. They stay abreast of the latest trends, regulations, and coverage options.

Insurance advisers know the insurance industry, insurance companies and claims assessors and adjusters. They also have an in-depth understanding of insurance products, which can vary substantially from insurer to insurer. This will save business owners and managers time and money.

2. Personalised Advice & Service

Your business, risks and financial situation are unique, key considerations for the in-depth review include information on key assets, finances and aims, as well as your risk tolerance. Once these have been discussed and reviewed, your insurance and risk adviser can work closely with you to tailor insurance solutions that meet your individual requirements and budget.

3. Claims Advice and Claims Assistance

In the event of a potential or actual claim, you can check what cover you have and any immediate requirements of the insurer, such as reporting the loss to the police or arranging repair quotes.

Once the claim is made, your insurance adviser becomes your claim advocate. Monitoring communications and ensuring that you claim the maximum available. They will guide you through the claims process, prepare and submit documentation, and assist in negotiating with insurance companies or assessors/adjustors when needed.

4. Ongoing Support and Risk Management

Insurance advisers provide ongoing support, reviewing your insurance coverage regularly to ensure it remains aligned with your changing needs and external factors such as the economy, new laws or industry. Expert risk management advice can also be provided, helping you identify and mitigate potential risks, such as workplace injury or advice on rebuilding costs.

5. Financial Peace of Mind

A qualified professional insurance adviser will provide peace of mind, knowing that your key financial risks are identified and managed, with the right mix of insurance cover and the amount of cover is sufficient for your needs.

Whether you’re an individual or a business owner, working with an IA insurance adviser offers a multitude of benefits, providing expert guidance, personalised service, advocacy, market access, ongoing support, convenience, and peace of mind.

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