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Industry Overview

Financial Planners receive a lot of negative media, which in most cases is caused by a few ‘bad eggs’ which were highlighted further in the Royal Commission. Financial Planners (arguably the kings of using acronyms) operate in a highly regulated and changing environment that is one of the most complex, time consuming industries in which to provide insurance broking services.

The limited number of Insurers willing to consider quoting terms and conditions require a significant amount of underwriting information and your Insurance Broker needs to thoroughly understand what they are presenting. This in turn achieves the appropriate result for the client, both in terms of coverage and premium cost. The coverage also needs to comply with the various ASIC Regulatory Guide 126 minimum P.I. Insurance requirements.

At Everest Risk Group Pty Ltd, we work with our customers to present your individual risk profile to potential insurers in the best possible light. A proposal form alone is not enough to secure the best coverage or premium outcomes. Our tailored approach to understanding the Licensee’s business intimately and conveying that detail to the insurance market achieves superior and timely negotiated outcomes on both coverage and premium pricing. The goal always being to present your practice as superior risk to the rest and highlight to the insurer your unique compliance and governance procedures.

Robert Huntley heads the Financial Services team at Everest Risk Group. Rob has 28 years insurance broking experience and in the past 20 years specialising in the financial services sector.

Contact Robert Huntley – Director: Financial Services / Financial Institutions

02 8880 0652 / 0417 546 052

We were interviewed by Kaplan Professional about Practical PI Considerations for the Financial Planning industry which can be viewed here