Most insurance companies, including Aetna and Chubb, work through an independent agency or broker system. It depends on the number of different insurance firms you expect to use. But for the majority of firms using a single insurance carrier, brokers and direct writers provide similar levels of service. Regardless of how many insurers they represent, brokers or agents must be licensed by the state. If you have multiple offices and want to consolidate your buying power, check that the broker is licensed to write coverage for each state in which you will need policies.
Qualifications Finding the right broker takes some homework.
It's best to independently qualify several brokers when seeking coverage. Although brokers can theoretically write coverage for any number of insurers, they will typically stick to a set of three to six insurance companies. Most brokers work on commission, so their attitude towards reducing your costs can be a good gauge of whether your business's interests are given precedence over their bottom line.