Whilst declaring the value of assets for insurance purposes is the responsibility of the client, the broker is responsible for ensuring they receive adequate advice and support to do this. In the event of a claim, the broker would not want their client to feel they were not properly advised. Fully understanding what needs to be insured, and how it is used, leads to better conversations with underwriters and sometimes better cover for the client.
How do you do this?
1) Ensure you ask specific and relevant questions during your initial fact-find . . .
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