What it actually means and how does it work in practice?

The client signs the broker of record letter  (natural person or legal entity) for insurance and reinsurance brokerage. It gives us the authority to carry out the analysis of the client’s current coverage, to suggest the possible improvements, to look for an offer on the insurance and /or reinsurance and to propose the coverage that best suits the needs of a particular client.

It is important to point out that during this process we insist on learning about the client and his business, in order to find out what are the most exposed elements in his business and what part of the risk he wants to transfer on re(insurance) in order to be fully protected.

The complete analysis and the proposal for improvement of insurance coverage is delivered to the client, as well as the offer of the best insurer. Although our advice is an advice from the profession, the client retains the right to choose the insurer.
In this case our job is to outcome the coverage from the selected insurer.

We would like to emphasize that we work in the interests of the client, and not of the insurer.

How do we charge our services?

Our services are free of charge for our clients. The insurer bears the costs, as well as he does for other channels of his internal or external insurance sales. Insurance premium shall not be greater because of the involvement of the broker.

What types of insurance can be arranged by the engagement of a broker?

Broker can arrange all types of insurance that are present in the Croatian insurance market but also it is possible to arrange insurance that doesn’t exist as a product in Croatian market. In that case our job is to find the needed/wanted coverage in EU market .

Since Croatia is part of EU you can arrange an insurance contract with foreign insurers who operate in Croatia through the so-called “Freedom of Service” EU directive. This way, we have been given the greater choice of insurance coverage and of specific insurance products. We are placing the insurance risks on the London insurance market, certainly the largest and the most important in the world.