What the conversation must establish
Interview a business insurance broker about exposure analysis, market access, programme design, fees and claims support.
Take these prompts into the meeting
- Document real operations
- Review loss history accuracy
- See markets approached
- Compare forms and exclusions
- Disclose all compensation
- Set claim and renewal duties
Describe operations before requesting quotes
Provide locations, revenue, payroll, vehicles, contracts, products, professional services, cyber dependencies and loss history. Ask the broker to state which exposures require more information. A generic industry code cannot capture subcontractors, international sales or unusual contractual obligations. Next step: Verify producer authority before placement.
Ask for the market and coverage map
Request the insurers approached, meaningful alternatives, declinations where relevant and the reason for the recommended structure. Compare limits, deductibles, forms, exclusions and endorsements across general liability, property, workers' compensation and specialist coverages that fit the actual exposures. Next step: Review contract boundaries.
Define compensation and service
Ask about commissions, broker fees, contingencies and services billed separately. Identify who issues certificates, reviews contracts, manages audits and supports claims. Set service timelines and renewal milestones so the relationship can be measured after placement. Next step: Use ratings as one insurer factor.
Turn an answer into evidence
A contractor's cheaper proposal excludes work above a stated height, but the business regularly performs it. The broker flags the mismatch, obtains an alternative and quantifies the added premium. Coverage fit - Not the original quote - Drives the decision.
How to judge the answers
| Subject | Relationship | Evidence or action |
|---|---|---|
| Core answer | should establish | Interview a business insurance broker about exposure analysis, market access, programme design, fees and claims support. |
| Authority and fit | is supported by | Document real operations |
| Quality of explanation | is tested with | Review loss history accuracy |
| Follow-through | should include | See markets approached |
Follow-up questions
Does a broker represent every insurer?
No. Market access and appointments vary. Ask which insurers were available for this account and whether material alternatives were not approached.
What is a broker-of-record letter?
It can authorize a broker to represent the business with insurers. Understand its scope, effective date and effect on other brokers before signing.
Leave with a usable record
- Document real operations
- Review loss history accuracy
- See markets approached
- Compare forms and exclusions
Primary sources
This page is general education, not individual financial, investment, insurance, mortgage, legal or tax advice.