The community association insurance market is specialized to meet the needs of insured parties. Brokers are the intermediaries who work with agencies within the market to access insurance policies with coverage that is generally not offered by retail agents or would otherwise be offered at extremely high premiums. Your wholesale broker will have expert knowledge of the CAI market to obtain the best policy for your community association needs.
Accessing the Market
An important fact about wholesale insurance agencies is that they operate outside of state insurance laws. This means that they have more flexibility with pricing, coverage offerings, and terms and conditions, and can create specialized policies for unique or high-risk liabilities. Your broker works with different agencies within the market across the country to find a policy that works for you. Brokers garner exclusive and professional relationships with these agencies, which means that they often have access to special offers and discounts that are only available to wholesale brokers and cannot be obtained anywhere else.
Interpreting the Market
Brokers play an important role in interpreting the community association insurance market for the insured. Because agencies in the market can have such diverse policies, there are many factors which may influence the pros and cons of choosing one policy over another. Your broker will help by advising you on your insurance needs, and comparing competing agencies and policies based on cost, coverage, reputation for settling claims, and financial strength.
With a wholesale broker, you can have access to the specialized market of community association insurance.