Commercial Insurance Solutions

In the UK, Chartis commercial insurance policies are made available on an advised basis; in other words they are purchased by our clients after recommendation by their insurance broker or agency.

At first thought, some may perceive the broker as a middle-man and query their role in a time when all sorts of commodities, from car insurance to international holidays, can be arranged directly or online. Actually there are many good reasons to appreciate the value of expert advice when arranging commercial insurances.

For starters, brokers are experts. Few people actually spend much of their time thinking about insurance. Knowledge of what is out there, who to ask for the best rates, what additional services are included and how the fine print within individual policies compare is hard to pick up in a short burst of engagement. A broker is required to impartially examine each business’ circumstances and suggest appropriate options.

And every business is different. To ensure a policy is fit for purpose it may need to have endorsements negotiated or particular limits adjusted with the insurer. The advisor may also suggest types of cover the client has not yet considered, even heard of, that could have a positive effect on removing potential risk from their balance sheet.

Most of all, this expertise works to ensure businesses actually have the cover that they require. This is important for peace of mind. In a crisis, having the wrong insurance could literally be a disaster. UK insurance brokers are regulated by the Financial Services Authority (FSA), which regulates their activities. Like other professionals, they are accountable for the advice that they provide.

The broker or agency will also take care of the shopping around, the checking of documentation and other management of the client relationship. Insurance companies can be very large organisations indeed. A single point of contact, a human face you can contact to answer any queries or in an emergency, can make a big difference -especially when the business is dealing with a crisis.

Chartis in the UK deals with a select number of the best national and regional broking firms. These are operations that we have developed relationships with over time. We know that their broker advisors understand the value of our policies and approach to loss reduction and can demonstrate this, in turn, to their clients.