Broking

An insurance Broker will be the intermediary who will sell, solicit and negotiate insurance on behalf of their client. They will typically negotiate with various insurers. Strong relationships between Brokers and Underwriters are formed. It is imperative that a broker gains trusts from Underwriters and this is where long lasting relationships are built.

An insurance contract is known as “Uberrima Fides”, which is a Latin term for a contract based on “Utmost good faith”. This means that both the Broker and Underwriter must disclose all material facts about the risk in question.