Spreading the importance of insurance protection to the business community
After many years of delivering training sessions to the insurance industry, I have been given the opportunity of speaking at conferences for other industries or at breakfast, lunch or evening functions hosted by brokers.
I really enjoy these opportunities of spreading the word on the importance of insurance protection.
I typically explain what I see in my day to day life handling claims and the costs to business owners, from a business and personal perspective when the program is not sufficient to fully indemnify them in the event of a loss. I spell out what is really at stake and shift the emphasis of insurance being a business cost to being a way of transferring risk from the business and the business owners to an insurer.
The next point is the pitfalls of not insuring fully and at this time I explain, in simple terms how co-insurance works and the need to review their insurance each and every year.
Other topics covered are the need for business interruption insurance, the risk of signing contracts without reading and fully understanding the terms and conditions and the benefits of business continuity planning.
I end with an explanation of the importance of the insurance broker/adviser as a trusted adviser to the business.
Today my talk was arranged and sponsored by Lea Insurance Brokers in Brisbane to the national conference of a paint association. The conference being held in Melbourne at the Pullman Hotel overlooking Albert Park. In addition to speaking at the conference, I stayed back for a couple of hours assisting answering any questions that those attending had.
What I get out of it is that clients in the main do want to protect their life’s work and they do go away with a different view of our industries vital service.