Marginal profits

Brokers are finding that profit margins on some small commercial lines are so low that they are having to turn such clients away. But, as Ewan Campbell discovers, there are ways for brokers to add value

It has become increasingly hard for brokers to satisfy small commercial clients and make a profit at the same time. There are two main reasons for this: low commission, and risk aversion on the part of insurers. Unfortunately, this means that sometimes prospective clients have to be told to try elsewhere.

"In the past we always tried to help, whatever the nature of the enquiry," says John Girling, associate director of regional broker Colin Ryan. "But there are some risks we know we won't be able

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

GIC completes Miller deal

Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: