My Agent or Broker Makes Sure
It seems reasonable to assume that your agent or broker is looking after your best interests. After all, you pay them very good money to do just that.
We work with agents, brokers, and risk managers who we firmly believe work hard to achieve their client’s best interest. That’s why they introduce us to their clients. They realize they can’t perform the complex compliance audit we perform because that is not their area of expertise. Agents and brokers may check basic issues but they are not qualified and trained compliance auditors. If they say they do what we do, either they don’t understand what we do or they have motivation to discourage an in-depth audit.
It’s been said that if you want to understand why a move is made in business – follow the money. Agents are typically paid a percentage of premiums. Therefore, as premium is decreased, commissions can decrease. In order for an agent or broker to recommend our services, they would have to want you to get your overpaid premiums back more than they want commissions on that overpaid premium.
Please don’t misunderstand. We do work with agents and brokers that do want what is best for their clients. For example: One agent we’ve worked with lost hundreds of thousands of dollars in premiums due to our audit. When asked how he felt about lost commissions, he said that he only deserved commissions on correct premiums – not overcharges.
If your agent or broker is truly looking out for your best interests, they will welcome our audit and we would love to work with them.