What Is An Insurer?

INSPECTIVE: Insurance Services refers to those insurance products and services provided by insurance organizations in Trinidad and Tobago that tend to cover Claimants who suffer accidental injury at their work place or while travelling on public roads and highways. A typical insurance service provided by most major insurance organizations covers Property damage, Personal injury (including death and personal injury claims), Work accident and Employer liability.

All other insurance services are provided by independent insurance brokers who do not represent any single insurance organization. The insurance broker in turn advertises the insurance products and services provided by his firm to the public. Insurance brokers earn their living by providing insurance services, therefore, they have all the time in the world to diligently promote their own insurance products and services. A broker may, however, sometimes recommend a particular insurance product or service to clients in return for a commission.Feel free to find more information at MEY’S INSURANCE SERVICES, RIVERSIDE.

Although the above-mentioned examples of insurances products and services simplify the task of clients in selecting their own insurance policy and acquiring necessary coverage, it is advisable to consider some factors before purchasing insurances from a broker. The insurance policies sold by brokers are generally more expensive than insurance policies sold by independent brokers and agents. Brokers also charge an additional fee for underwriting policies and submitting proof of insurances to the insurance company. This fee is commonly referred to as the “finder’s fee.”

A potential client should also be concerned with whether their chosen insurances broker will be able to provide them with the type of service required. Most brokersĀ  offer a wide range of insurances, ranging from general liability insurances to specific niche insurance policies such as pet insurance. A potential client should ensure that their chosen broker can assist them in choosing the best type of insurances suited to their individual needs. If a broker cannot assist you in choosing the right insurance policy or does not provide assistance in making this decision, then it is recommended that your search for an insurances broker continue.

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