Why use a Chartered Insurance Broker?

Townley Insurance Brokers are owned solely by Adam and Liz Townley and are not tied into Insurers or controlled by a network. This means we only have to answer to ourselves, not large corporate shareholders.

At Townley Insurance Brokers we only use rated insurance companies. This still gives our clients peace of mind and a wide and unbiased choice of Insurers and products that offer the best cover, with the certainty that you are with a good, reliable, rated Insurer. We’ll always offer you the most competitive premium for the best cover. All advice to Business Owners is only given by our qualified Chartered Broker. Adam has over 14 years in the insurance industry and has taken many years to become fully qualified to ACII level which means he can use the title of Chartered Insurance Broker.

Did you know there are different levels of insurance qualifications?

FCII –  this requires the holder to have achieved ACII and written a dissertation on an insurance subject that is of particular interest.

ACIIthis is the top qualification by examination, is degree-level, and demonstrates that the person has an in-depth knowledge of insurance.

Dip CIIthis is the next step up after Cert CII and brings with it longer, essay-style exams.

Cert CIIthis is the basic level of qualification and involves 3 multiple-choice exams. It’s reasonable for an Insurance Broker to achieve this within a year or so of beginning their career and no progression beyond this is a sign that they are unwilling or unable to pass the next higher level of exams.

Why would you not want a fully qualified Insurance Broker protecting possibly your biggest asset?

If you used a Solicitor you expect them to be qualified, as you would your Accountant, IFA, Financial Planner, Architect, Surveyor and many more professions.

Unfortunately, in general insurance anyone can be an insurance broker. Which is a great shame, as insurance can be a minefield for many Business Owners and Charity trustees, who rely on their insurance broker to give effective advice. The Chartered Institute currently only have 23,000 Chartered Insurance Brokers in the whole of the UK, which might seem large however it’s actually less than a fifth of the whole profession. There is no legal requirement for minimum standards from the FCA.

Yet, we are seeing significant amounts of business owners calling us as their qualified independent brokers have sold out to a large broker who only employ sales people. Why would you pay a large premium and fees to insurance brokers who are not willing to invest in their staff to meet minimum standards and insist that they are giving ‘expert advice’ on their websites and social media?

In the large majority of cases insurance is known as a critical or distressed purchase. If your business does not have the correct levels of insurance cover in place, then there is a real possibility that your business will not survive a medium to large scale incident. So please contact Townley Insurance Brokers on 01823 230249 and book your business insurance review with our Chartered Insurance Broker today. #ChooseChartered

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