What is stopping me from obtaining the information myself?

Honestly? Nothing. You can approach your broker the same way we would. However do you know what exactly you are asking for? If the broker is evasive or does not provide, how do you approach it thereafter? How do you verify what you are being told is correct? And most importantly, once you have the data, how do your intepret it? Our experience means we can do all this seamlessly, saving you hours of back and forth.

How often should I obtain a remuneration disclosure from my broker?

In an ideal world this should be done yearly, as part of the annual renewal process. The reason being this is time when things are most likely to change.

What is a fair commission / fee to pay to an insurance broker?

There is no true answer to this, it is dependant on a number of factors. Some brokers absolutely warrant high commissions because they act as a full risk management function of the insured, doing everything from health and safety to invoicing. You may see them 5 times a year and they might help get claims paid which are borderline. Other brokers want to receive high income for essentially postbox broking. They do a brief market exercise (sometimes electronically), offer little to no value during the year and have zero administration. We take into consideration all of the above and will even discuss the brokers offering with them to give them an opportunity to validate their earnings before we make any comment on what is or isn’t reasonable.

Can you advise me on the cover I have and if that is fit for purpose?

Unfortunately at this time not. We are not an insurance broker and therefore are not authorised to advise on your insurance demands and needs.

What factors do you consider when you determine if the fees charged represent fair value?

Our experience in the market is reinforced by data and insights into thousands of policies. We look at everything from the trade, the complexity of placement, the distribution chain to any conflicts of interest. We give particular attention to the service the broker provides - how often do they visit the site(s)? What risk management guidance do they provide? What is the workload like?