Working in the insurance industry

Stone MANOR London

Helping people break into the insurance market

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What Next Green surfer

  • Hands-on experience in the industry can be crucial in securing a job … as is flexibility. Get experience in different areas and be willing to travel....get into insurance
  • Risk and Insurance Getting into International Development

Stone Manor - As Already Observed, It Is Possible To Insure Against Almost Any Risk.

As already observed, it is possible to insure against almost any risk. There are many other types of insurance within the categories described which are too numerous to detail here.

Other types of insurance specifically cover glass, livestock, contracts and engineering. It is even possible to take out rain and weather insurance, which can range from paying compensation for a rainy holiday to providing insurance cover for crops hit by hurricane in the West Indies. Insurance is an international industry and brokers place their business wherever they think best throughout the world. Most of the premium income of the UK underwriters, at Lloyd's and the insurance companies, comes from providing insurance cover for foreign countries.

Insurance is now being spread more widely than ever before, chiefly because of enormous modern risks such as factories, oil rigs or tankers. This is a reminder of the purpose of insurance as was expressed in the Act of Parliament: of 1601. ?Upon the loss or perishing of any ship, there followeth not the loss or undoing of any man, but the loss lighteth rather easily upon many than heavily upon few ?. Jobs in Insurance Broking: An insurance broker places insurance on behalf of a client, which means acting as a go - between for the client and insurer, deciding on the best policy and negotiating the best possible premium. A broker must put the interests of the client above those of the insurers with whom he is dealing. Brokers deal with a whole range of insurers, and know exactly what cover their policies provide, what special conditions or charges may be imposed and what optional extra cover is available. Brokers are ideally placed to choose the policies which are best suited to individual, family and business needs, as they will keep in touch with the client and are able to recommend changes in insurance cover in order to keep pace with inflation or to meet changed circumstances.

They make money by being paid commission by the insurer for the introduction of business. However, the broker's only obligations to the underwriter are to respect the principle of utmost good faith and accept responsibility for premiums.

Until December 2001 anybody could set up in business as an insurance broker. Now insurance brokers must be registered with the Insurance Brokers' Registration Council. In order to register, a broker must fulfil the following conditions: A broker must deal with several insurance companies and must not place more than 30 per cent of his or her business with any one insurance company.

A Broker Must Have Professional Indemnity Insurance: A Broker Must Demonstrate Financial

A broker must have professional indemnity insurance: A broker must demonstrate financial probity by keeping the client's money (the premiums) separate from his or her own w

Anyone Thinking Of A Career In Broking Would Be Wise To Apply

Anyone thinking of a career in broking would be wise to apply exclusively to registered insurance brokers and BIBA members as only these companies will be able to prov

These Positions Are In Departments Such As Accounts And Data Processing, Which

These positions are in departments such as accounts and data processing, which are located outside London, and a high proportion of GCSE recruits are women. There is no pub to promotion