Biba says brokers must prove value in current economy

Recent research commissioned by the trade organisation has revealed that a third of small to medium-sized enterprises (SMEs) not using an insurance broker did not understand that their method of buying insurance - either via a bank, trade association or direct online - was not advised and that they were probably only being offered a single product.

Additionally, while 63% of SMEs who did not use brokers responded that they received specialist advice in identifying a suitable insurance policy,

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