Brokers predominately purchase this service, which has grown out of a demand for support to accurately assess appropriate sums insured for private clients. Our service avoids policyholders being underinsured. We have seen professional indemnity claims made against broker for supplying poor advice and inaccurate sums insured and our service helps them avoid these problems and gives their own client confidence in the level of cover they have bought.
Where our appraisal forms part of a risk submission to insurers, it also gives confidence to underwriters and can be a powerful tool for brokers in securing placement.
This is a growing area of our business and provides brokers and their clients with a detailed report covering:
- Adequacy of sums insured
- Risk improvements
- Coverage issues (warranties/endorsements)
