Frequently Asked Questions
Can my insurance agent or broker provide the same services as an
Independent Risk Management Consultant?
Many insurance agents and brokers may call themselves consultants. They
earn their income selling insurance for commission. Their “Producers”
must sell insurance to keep the organization afloat. The “Producers”
need to spend their time finding customers to purchase insurance and do not
always have the time or the experience in solving complex risk management
problems your company may have.
When consulting with an Independent Risk Management Consultant, you do not
need to worry about where the focus is in the business relationship. In business
if you want to know where the primary focus is, then follow the money. The
insurance agent or broker is often paid by the insurance company. The
Independent Risk Management Consultant is paid by you, so the primary
focus is on meeting your insurance and risk management needs, not on how much
commission will be paid because a certain product is sold.
An insurance agent is bound by contract to represent the insurance company.
In contracts with insurance companies, the insurance is obligated to hold
the insurer's interest above yours. If the agent learns of an unfavorable
issue regarding your organization, then how will they react?
When consulting with an Independent Risk Management Consultant you have the
ability to set forth a strategy to deal with the insurance agent, broker, or
company. After consideration the strategy is implemented in a manner that is
directed by you and this affords you leverage in getting what you need at a
fair cost.
