Stone Manor - Each Company Is Split Into Divisions - Overseas, Life, Management Services And
Each company is split into divisions - Overseas, Life, Management Services and Planning, Marine, Aviation, Reinsurance, Finance, and the Home division. The Home division employs the largest number of people, and deals with almost all insurance business through the nationwide branch network.
Insurance can also cover many aspects of employer safety. Protecting you company from loosing money when someone becomes critically ill is a key in todays business. Take out insurance that will cover loss of a key business specialist today.
Insurance is arranged by underwriters The term underwriter applies to any individual at Lloyd's, or with an insurance company, who has authority to agree to insure someone, to set the premium and issue a policy. Most insurance is arranged through an insurance broker or an agent, not directly with the insurers. A broker is someone who broaches or arranges business, by taking it to the underwriter Lloyd's brokers are specially controlled and no one else can arrange business at Lloyd's. Brokers are paid a commission by the insurers, not by their clients. The insurers pay the broker for introducing business to them.
The broker's duty is to obtain the best possible terms and cover for a client The broker will have specialist knowledge of insurance and be able to choose the most suitable type of policy. Brokers negotiate with insurers, pass on the client's money for the premium payment, deal with any problems and act for the client should a claim arise. Sometimes insurance is transacted by an authorised company agent, who may be, for example, a bank manager, solicitor or travel agent An agent will provide the client with a proposal form, and forward that to the insurer.
Like brokers, agents receive a commission for the business they introduce. Some insurance companies, particularly those selling life insurance, employ full - time salaried agents who sell insurance on a door - to - door basis. These agents are supervised by a sales inspector, who also keeps in touch with brokers in the area covered It is also possible for the public to deal directly with insurance companies.
There are many different types of insurance. The more common insurance covers household items, cars, homes and even life insurace, now there are also yachts, boats and other marine vessels insured as well.
This is often the case with household and personal insurance, and this business will be handled by insurance company staff. Principles of Insurance and Career Possibilities The career possibilities are good, although only a few people with outstanding ability manage to attain the highest levels. However, companies do their utmost to bring their staff to a high degree of competence and give every encouragement to improve job satisfaction and bring out the maximum potential of each individual in his or her particular field.