Is There Still A Need For Insurance Brokers ?
Until fairly recently, it was virtually impossible to obtain insurance for anything without using the services of an insurance broker. This was true for normal domestic insurance, such as home and car insurance, and also for all types of business and liability insurances. Insurance companies generally did not like dealing with members of the public, as it was too time-consuming and costly. They preferred to use an intermediary, an agent – usually an insurance broker – who could deal directly with the public, and then negotiate the risk with the underwriters of the insurance company.