Insurance broker means a person who arranges insurance business with insurers on behalf of prospective policyholder, or as a representative of a policyholder.

Essentially, insurance brokers are a type of insurance intermediary. The services provided by RIB in its capacity as an insurance broker include, inter alia, the following:

• Insurance placement
• Seeking quotations from insurers
• Processing insurance policy renewals
• Providing advice in relation to insurance policies
• Negotiating the best available premiums for clients
• Reviewing and/or processing endorsements of insurance policies
• Notifying clients of changes in the insurance market which may affect their policies
• Arranging insurance policies on behalf of the insured
• Assisting the insured in notifying, preparing, and supporting claims under the relevant policies.

RIB does not charge any fees. Insurance brokers are remunerated through commissions negotiated with the insurance companies with which the insurance coverage(s) are placed.

In accordance with Section 71 of the Insurance Act 2008 (as amended), insurance brokers have an obligation to inform a prospective policyholder of any commission or other remuneration that it is likely to receive from an insurer in the event that the prospective policyholder enters into an insurance policy for which the broker has provided services.

Lodging a claim with Reliance Insurance Brokers is quick and easy. Simply follow these steps:

• Contact us: Reach out to your dedicated broker or our claims department.
• Provide details: Share all relevant information about the incident and your policy.
• Documentation: Submit any required documents, such as photos, reports, and forms.
• Review: The team at RIB will review your claim and guide you through the process.
• Resolution: We’ll work diligently to ensure a swift and fair resolution.