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Services of an insurance broker

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Reference no: EM132945280

The CEO of a financial service operator is looking into consolidating the servicing of all the Group's insurance policies through a reputable insurance broker. CEO has issued a tender for local licensed insurance brokers to submit their presentation:

Question 1 - Why the Focus Group of Companies should consider the services of an insurance broker? Including the following:

-Functional Organisational Chart (noting the responsibilities, not the roles);
-Criteria used for Fair Market Analysis;
-Criteria used of the selection of Insurers.

Question 2 - Provide an overview on the competence and experience of the broker to deliver the identified services, including the following:

-Whether the broker was subject to any regulatory financial penalties or other disciplinary actions.
-Handling of Conflicts of Interest;
-Commission Transparency.

Question 3 - What are the recommendations on additional insurance protection

Reference no: EM132945280

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