Brokers ability to present a risk as good quality key to ensuring coverage

The quality of a broker’s presentation of risk is the most important factor considered by underwriters when deciding whether or not to take on a risk, according to a Marsh survey.An independent research firm polled underwriters in seven global insurance centres. Almost half of the underwriters surveyed said the quality of a broker’s presentation of risk was most important when deciding whether to quote for a risk. Thirty per cent of respondents said the client’s approach to risk was the most important factor, and 21% said it was the underwriter’s relationship with the broker. “These results send a clear message to insureds: if they want to obtain the most competitive rate for their risk, they need not only to have a superior approach to risk management, but also work with the broker best able to present their risk to insurers,” Nick Bacon, CEO of Bowring Marsh said in a release.