The primary difference between an insurance broker and an insurance agent is who each represents. While a broker represents the insurance buyer with many carriers, an agent typically represents one insurance company. Illinois Select Risk is a licensed business insurance broker and can access coverage from a variety of insurance carriers.
That depends on many things – starting with what kind of insurance is being quoted. Your size, mission or program offerings, vehicles, payroll, foreign operations…these and other pieces of information factor into the speed of a proposal.
Investing time with us up front not only helps us be sure the necessary insurance coverages are being quoted but allows us to write a narrative with the submission. This provides the underwriter a measure of comfort and can translate into competitive pricing.
Sometimes those notices are because the carrier isn’t in your line of business anymore. Sometimes it’s because they are not writing your size business anymore. And sometimes it’s claim activity. Call us. We have multiple options and can quote carriers that will fit best with your organization.
Many buyers believe an umbrella policy protects from every claim possible. Most insurance policies exclude many types of claims – from insects and rodent damage, lightning strike to a paved parking lot or sidewalk, wear and tear on equipment to name a very few.
Umbrella policies can be described as ‘more of the same’ which means you need an underlying or base policy with proper coverage first. And remember – Umbrella policies are for liability – not your property.