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Brokering Relationships: Risk Managers & Insurance Brokers

The bond between a risk manager and their insurance broker can last as longor longerthan the average marriage, and the good ones are built on trust, growth, reciprocity and good communication. Here's how the best ones are maintained.

By Laura Mazzuca Toops | Updated on April 01, 2014
In the realm of relationships, the bond between risk managers and their insurance brokers is right up there with that of patient/doctor or lawyer/client. Many of these relationships last as long—or longer—than the average marriage, and the good ones are built on many of the same elements: trust, growth, reciprocity and good communication.

But unlike a personal relationship, the risk manager/broker bond leaves no room for error. A communication misstep on the part of either party could result in a coverage gap that could prove financially devastating for the client, and in turn get the broker tossed out the door.

And in today’s intensely competitive insurance marketplace, it’s a relationship that gets re-evaluated regularly.

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