5 Reasons It May Be Time to Change Your Business Insurance Broker

Is your current business insurance broker ensuring you’re properly protected, with competitive terms, sector-specific advice, and responsive support when it matters most? If you have any doubts, it may be time to consider whether another broker would be a better fit.

Aside from providing coverage that safeguards all aspects of your business, a trusted broker will also offer ongoing strategic advice, explain cover clearly, and act swiftly in the event of a claim. If you’re not getting that level of service, it may be time to explore other options.

 

What is the role of a business insurance broker?

A business insurance broker acts as a trusted intermediary between you and the insurance market. Their role isn’t simply to place cover, it’s to understand the specific risks your business faces and to recommend insurance solutions that align with those risks, your budget, and your legal obligations. An effective broker will provide:

• Independent advice tailored to your sector
• Ongoing review and renewal support
• Guidance through claims processes
• Clear, honest explanations of cover limits, exclusions, and obligations

 

5 signs it might be time to change your business insurance broker

If your current provider isn’t delivering these core services reliably, you may want to reassess your options. Here are five common reasons business owners consider changing brokers:

 

1. Overpromising without delivery

Some brokers may promise broad coverage or unusually low premiums, but if those promises don’t materialise, it can leave your business exposed. It’s always wise to question offers that seem too good to be true and to ensure your broker sets clear, realistic expectations from the outset.

What matters most is reliable delivery: policy documentation that matches what was agreed, prompt support when issues arise, and professional communication throughout.

 

2. Lack of sector-specific expertise

Every industry has its own risk profile. If your broker doesn’t understand the regulatory environment, contractual norms, or operational risks in your sector, it’s difficult for them to arrange adequate cover.

Whether you’re a contractor, professional service firm, or product-based business, you’ll benefit from working with a broker who regularly supports similar clients. And remember, in Ireland, only brokers authorised by the Central Bank of Ireland are permitted to provide insurance advice and services.

 

 

3. Unexplained premium increases or unclear costs

While commercial insurance premiums can fluctuate due to market conditions, your broker should always be transparent about:

• The reasons why your premium is changing
• What factors are driving pricing (e.g. claims, inflation, sector risk)
• Any changes in your policy terms

If you’re seeing unexplained increases or vague justifications, it may be time to seek advice from a more transparent provider.

 

4. Poor response times or service breakdowns

In moments of urgency, such as when a contract needs signing or a claim arises, your broker’s responsiveness matters. Delays, unanswered emails, or missed follow-ups can impact your business, especially when proof of cover is required quickly.

If you’re consistently chasing updates or feel your account isn’t being prioritised, it may indicate a lack of fit.

 

5. Negative feedback or reputational concerns

If your confidence in a broker is shaken, it’s worth checking how others have found their service. While no business is perfect, consistent negative reviews or unresolved complaints can be a red flag.

Switching doesn’t need to be disruptive. A quality broker will manage the transition for you and ensure continuity of cover.

 

 

Looking for a business insurance broker who works harder for you?

At ERM Financial Services, we combine more than 30 years’ experience with a commitment to transparency, technical expertise, and personal service. As a Central Bank of Ireland-regulated broker, we support clients across construction, professional services, retail, hospitality and beyond.

We offer independent advice on key covers such as:

• Public Liability Insurance
• Employers’ Liability Insurance
• Cyber Insurance
• Business Interruption Insurance
• Professional Indemnity Insurance

We believe in relationships built on trust, not transactions. If you’d like to explore how we can support your business, we’d be happy to talk.