The insurance broker is obliged to investigate impartially all business circumstances and propose appropriate insurance options. Insurance brokers are licensed persons and experts of the business and are responsible for the advice they provide.
Brokers are consultants; they propose types of coverings that the client has not yet reviewed or even heard, and which could have a positive impact on eliminating the potential risks to its balance.
The work of brokers is regulated by the Law on Insurance Supervision, and the regulatory body overseeing the work of intermediaries is the Insurance Supervision Agency.
Expenses for the Brokers services are usually paid by the insurer as a commission from the concluded insurance contracts for which the broker mediated. The Broker’s cost is included in the part of the insurance premium, intended for covering the expenses for conducting the insurance of the insurance company, which of course, with or without a broker, calculates the insurance premiums in the total premium.
The amount of the premium does not depend on whether the insured uses or does not use an insurance brokerage company. Therefore, the Broker provides the most commercially viable premium for the insured in relation to the premium paid by the Insured to the insurance companies in the previous period when he did not use services from the insurance brokerage company.
The broker for the insured and other interested clients, investors, brokerage houses and other interested parties, performs
Revision of the insurance policy
– analysis of applicable insurance policies
– giving suggestions and recommendations for achieving better quality coverage in accordance with your actual needs
Identification and risk analysis
– identifying the risks to which you are exposed and endangering your business
– make proposals and recommendations for optimal insurance coverage and structure of insurance programs
Preparing insurance agreement
– prepares tendering procedures
– preparation of documentation and communication / negotiations with insurance companies in order to make an insurance offer
– analysis of the offer and selection of the most favorable offer in terms of insurance coverage. A very important criterion is often, not only the cost of insurance (premium), but also the terms of insurance and financial strength of the insurer
– control of issued insurance policies and their administration
Monitoring of policy scans and renewal of policies
– takes care of the insurance policies and their timely renewal
– agreement with the client for renewal of policies
Assistance to resolve claims for damages
– assistance in the settlement of impairment claims
– claiming damages
– collecting documentation
– monitoring and realization of damages
Providing professional assistance throughout the duration of the insurance
– professional advice in the form of advice
– for the insured and other clients, to manage risks in concluding contracts with insurance companies to define the requirements for the necessary insurance
– when concluding a contract with insurance companies, interpreting the terms of the agreements regarding the necessary insurance
Providing independent and objective advisory services
– the services of independent and objective advice on the issue of insurance, the insurance market, information on all types of insurance and new insurance products
For multinational – regional companies based in Macedonia, we offer services for creating multinational programs
– Creation of an insurance program for the Macedonian regional companies
– Optimization of coverage and premiums in all countries where the insured, the client, has a daughter, subsidiaries and representative offices, taking into account compliance with applicable local regulations and laws
– Providing insurance for such exposure to the leading European insurance companies that have experience in providing multinational programs, where the choice of insurers takes into account the coverage and the limits, the regional presence, the multinational experience, the reputation, the price and the total value that the insurer can provide.