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Who is the insurance broker?
Insurance broker is an intermediary between the person/organisation purchasing insurance and the insurance company.

Does broker increases the cost of insurance?
No, We actually help in reducing the cost of insurance or rather we make it more cost effective.

Why do we need a broker, why not go direct to insurance company?
You have the liberty to go direct to an insurance company but it always make sense to go through an experienced broker as the broker knows the pulse of each and every insurance company and is in a position to offer better terms of insurance than what can be obtained through a direct visit to an insurance company.

What value additions a broker can make?
Brokers have specialised insurance personnel to cater to all segment of clientele and these experts can provide personalised information and customise the insurance policy to suit individual insurance needs. Hence for professional advices and value added services brokers like us are required.

How to know whether the broker is an authorised legal entity or a fly by night operator?
Central Bank of Bahrain (CBB) vide their license number IBR/010 have authorised Armour Insurance Services WLL to act as an insurance broker. Hence similarly you can check up with CBB, whether any other broker is an authorised broker or a fly by night operator.

Can the broker settle our claims?
Brokers are sometimes authorised by the insurance company to settle the claims on their behalf. Brokers however facilitate hastening the process of documentation required for early claim settlement. Advices of experienced brokers always help in smooth settlement of the claim.

Which broker is more dependable a) the one who gives lower premium or b) the ones who provide proper advices whether the premium goes up or down?
We believe in long term relations and hence we will not just advice you on lower premium but will also provide you the shortcomings of lower premium options. Generally speaking the broker should advice you on most cost effective coverage fitting your insurance requirement.

Can the broker provide professional advices on loss reduction or loss minimisation techniques?
The professional brokers are in the business on the basis of their ability to provide information on risk management techniques as any measures taken on reducing the probability of occurrence of loss leads to reduction in premium paid and not just so but it also helps the insured to continue with their business in accident-free manner. We at Armour Insurance have a team of professionals who have already guided many industries on risk management techniques and hence we are serving several clients in India, Bahrain and elsewhere.

What is the relation between insurance broker and insurance companies?
Insurance brokers are professional intermediaries and have excellent relations with insurance companies but they are not the risk carriers as the risk is carried only by the insurance companies. The relation between them does not stop at this as due to professional advices from the brokers, the insurance companies gets well informed clients which means providing insurance related services gets easier.

What will happen if we choose different broker for different insurance needs?
Except for extreme circumstances, it is advisable to tie up with a single broker as then the entire spectrum of insurance need gets balanced attention from the broker.

What are the charges of using the services of a broker?
There is no charge levied on you when you use the services of a broker. The brokers are remunerated by the insurance companies for rendering complimentary services to you.

I have longstanding relations with my current broker so why should I leave them for you?
It is always seen that an independent new look at risk profile helps overcome the complacency of years. At Armour Insurance Services we can provide an independent comprehensive and complimentary health check of your insurance portfolio from our perspective and as a broker we will honour your decision to continue or discontinue with your current brokers.

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