Elements and Performance Criteria
- Identify significant risk changes to insurance program
- Prepare advice to client
- Negotiate with insurers on behalf of client
- Communicate options to client and obtain client instructions
- Alternative risk management strategies are presented to provide client with viable options
- Cost-benefit analysis of options is undertaken where appropriate
- Client is provided with the opportunity to discuss and question alternatives
- Clear and concise formal instructions are obtained
- Client instructions are documented and confirmed to protect interests of client and broker