Wish it were so!
It’s frustrating when we find clients who have purchased insurance from another provider or broker, and the product they have bought does not meet their needs, #becauseaccidentshappen to nice people all the time.
Whether that is because the provider didn’t understand their business, or the client didn’t explain what they do or what they needed properly, either way it’s the providers fault, they should conduct a detailed fact find so they understand what the client does, so they can advise them correctly.
Under the Insurance ACT 2015 this duty is clearly established. Clients have a duty to disclose anything that they can reasonably assume is relevant, but providers and brokers have an absolute and higher duty of care to “Find Out” what they know might be relevant, that a client wouldn’t necessarily know.
This is a skill taught to all our staff and honed through experience in the real world. Its’ one we exercise day in and day out on behalf of our clients and we are proud of the care that we show them. All clients receive the same duty of care. The small ones are less complicated and sophisticated, the larger ones just need more time and so pay higher fees, so our service is #openhonesttransparent.
This week I will be dealing with:
- A property management company that requires liability cover for a piece of land
- A security company
- A client that needs a deferred VAT Bond
- A company that imports clothing
- And a fishing lake in Mid-Wales.
All require different solutions, but we will make sure we understand their individual needs and design solutions specifically for them.
Have a great week.