When conducting a search for a property and casualty broker, it’s critical to find one who specializes in your industry. After all, manufacturing issues are quite different from, say, those in retail and publishing. You also want your broker to understand the workers’ compensation market thoroughly (including your state’s requirements) and be able to apply that knowledge to your particular circumstances. Any broker you choose also needs to have a close working relationship with the major workers’ comp carriers.
As far as conducting the actual search, start by asking friends, family, and colleagues for referrals, check with your local chamber of commerce, search under “Insurance” in the Yellow Pages, or visit your state insurance commissioner’s Web site. For professionals such as attorneys and accountants, it’s probably best to find a broker who specializes in professional liability insurance, as these brokers can ensure your practice is presented in the best possible light and that you get the best policy for the lowest price.
For more on insurance brokers, be sure to read What Is an Insurance Broker and How Many Do You Need?