Why Clear Insurance is Crystal Clear on Broker Fees
Clear Insurance believes it’s more important than ever to be open and honest about fees, commissions and charges when it comes to broker fees for risk and insurance advice.
That’s why Clear Insurance is crystal clear about its industry-leading fee-for-service approach.
Broker Fees with a Difference
Clear Insurance led the way over 12 months ago with its game-changing decision to decline insurer commissions and move to a transparent fee-for-service approach.
To explain, Clear Managing Director Lisa Carter says, ‘with a transparent fee-for-service approach, clients know we place their business interests front and centre.’
To put it another way, ‘It means insurer commissions do not sway us. Our advice is wholly unbiased. Business leaders have complete confidence that the risk and insurance guidance we provide suits business needs,’ continues Lisa.
Commission Disclosure is Critical
Clear Insurance wholeheartedly agrees with the comment consultant John Trowbridge made at the recent National Insurance Brokers Association convention. It was at this event that he highlighted the lack of transparency around general insurance remuneration is a problem.
Later this year, the Federal Government will complete its ‘Quality of Advice’ review to examine the quality of financial advice across the board. Firstly, it’s a welcome and critical pathway in driving a brighter future for the risk and insurance industry.
Secondly, disclosure of commissions may help build client trust and confidence in financial advice; however, not accepting commissions removes any doubt.
Transparent Broker Fees Build Confidence
You can’t beat the feeling of making confident business decisions. Especially, when your risk and insurance adviser serves your best business interests and not the insurer. It opens the doors to building long-lasting client and insurer relationships.
Above all, it enables you to work with your adviser to gain a clear understanding of your business risks and how to mitigate them without the feeling of being oversold insurance.
Looking for Broker Fees & Services You Can Trust?
Contact us today to learn more about our fee-for-service approach to risk and insurance advice.
This article originally appeared on Clear Insurance In The News and has been published here with permission.
Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Clear Insurance.