FAQ

Question:	I have an insurance broker already. Doesn’t he do what you do?
Answer:	Sure, your broker touts himself as a risk management consultant, but should his compensation be entirely contingent on how much premium you are charged, there is a disincentive for the broker to reduce the premium thereby reducing his commission. If he is getting 10 or more percent of the premium as commission, why would it behoove him to market it again, wasting weeks of work, to net you a $10,000 savings, which would lead to less money in his pocket? Further, he is limited in which insurance companies he can access by the relationships his agency has with certain insurers. Brokers earn by winning your business, they earn nothing on the hard and necessary work that should come after a policy is bound, unless they charge you for their efforts. They rarely review your policies after issuance by the insurance companies with the intent to match your risk to the proper insurance attached to that risk. They seldom seek to add hard to get endorsements which broaden coverage as they don’t want to rock the boat with the insurer who is their provider of income. Why, you say, doesn’t your broker audit your policy and seek to add coverages that can increase your coverage without any additional premium? Because he has no motivation, as all this extra work will not net him any additional commission dollars because the customary financial arrangement between the insurance company and the broker provides no incentive for the broker to seek policy changes which would benefit you, the insured, unless there is a premium attached or a fee charged for his efforts. Simply put, the broker has no incentive to seek policy changes which would benefit you unless there is income to him attached to the transaction. ICA, as your risk management consultant, is objective in that the bias and personal interest is removed, because ICA, as your consultant, works for you and you only; earning only the fee you agree to pay. ICA remains totally independent of insurance companies, brokers or agents, enabling us to seek out the best insurers offering the best programs at the best prices.