The aba Group Emphasises the Importance of Using a Business Insurance Broker when Managing Business Risks
Lately, many insurance companies have begun to market themselves as being cheaper when a customer buys directly from them. At a time where the British economy is relying on funds from the Bank of England to prevent it from falling into another recess
Aba Group’s managing Director, Graham Webster says that:
“This couldn’t be further from the truth. Cost is of course one of, if not the most critical factor when someone invests in an insurance policy in times like these. The truth of it is however, that Business Insurance Brokers actually get better rates from these underwriters. The reason for this is that Business Insurance Brokers are highly qualified, professionally trained people; so by vetting a client and choosing a suitable insurance policy for them, the underwriter is actually put at less risk whilst maintaining their premium income”.
For a long time, many people have assumed that the addition of another entity in a process, in this case in Insurance, adds additional work and costs to the service overall. In some cases this is true, but these ‘middle men’ often bring a particular set of valuable skills into the equation.
“In addition to getting better rates from the underwriters, there’s a lot to be said for the experience that a Business Insurance Broker brings to the acquisition of a suitable insurance policy. Here at the aba Group, we have a combined experience of over 70 years where we have learned much about the kinds of cover a business ought to have, considering eventualities that many business owners wouldn’t have thought of. The result of course, is tailored, comprehensive cover that meets the precise needs of a business. If the same client were to go direct to the underwriter, they may end up investing in a policy that isn’t entirely right for them because they don’t have the same expert advice on hand to help them with their decision., What’s more, underwriters often have thousands of clients contacting them every day and so many clients may not get the personal service, care and attention that they actually need. This is where good Business Insurance Brokers shine, as they have the time to sit down and consult with their client at length before any decisions are made” states Mr Webster.
Further to this, research undertaken by RiskHeads last year, points to Business Insurance Brokers as being easier to deal with when choosing a policy, as well as being more proactive in following up correspondence and helping to make changes later in the life of a policy where business needs had changed. Where a business relies on insurance in the event of a loss or interruption of business, such changes are vital to ensure that the policy pays out in the event that a claim is made.
“At the end of it all, we’re not here to skim money off of a simple process, we’re here to advise and consult with businesses on what is actually a very thorny issue that is fraught with pitfalls. The last thing a business needs is to experience a disaster only to find that the insurance provider is unwilling to cover the damage or loss. As experienced, professional business people, we act to minimise the chance that such a situation ever occurs, making our client’s investment in business insurance work for them, not the underwriter. So for those businesses who are looking to try and save some money, going direct certainly isn’t the best approach. Speak to a number of business insurance brokers, but don’t compromise on your cover” adds Mr Webster
The aba Group works closely with businesses throughout Bolton, Manchester and in the local area, so if you would like more advice on your risk management practices, or if you would like them to examine your existing insurance cover, contact them today.
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About aba Group:
aba Group has been operating in Bolton for years, headed by Managing Director Graham Webster and fellow Director Lynne Eckersley, they have 70 years’ experience in the industry between them. Their specialist insurance coverage spans schools and academies, directors, officers, contractors, engineers, landlords and a whole host of other professional roles and activities; which has seen them become the go-to business insurance brokers locally.
For further information contact:
- Contact Information
- Graham Webster
- Managing Director
- aba Group
- Contact via E-mail
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