What does a Public Liability Insurance Broker do?

A public liability insurance broker sells a special type of insurance to businesses that protects them against any damages they may have caused. This type of insurance broker typically sells to commercial clients, either working with an insurance agency or as an independent broker. Public liability insurance brokers typically consult with business owners about their location and operations in order to provide them with the appropriate amount of coverage.

While an insurance representative may sell different types of commercial policies from one particular insurer, a public liability insurance broker often works as an independent salesman who can offer coverage from many different companies. An independent broker is generally self-employed and has a set of commercial clients — though he or she may also sell other types of commercial insurance policies along with public liability. As an independent contractor, a public liability insurance broker is able to offer clients a variety of policies from a variety of companies.

A determination of how much liability coverage is needed involves assessing the risk for damages that an individual or business has. Risk assessment is necessary for all kinds of insurance, and it is especially important for public liability insurance so that a business is adequately protected against lawsuits. Brokers for this kind of insurance must assess how much risk a business has for possibly causing damages or injuries to individuals so that they can then offer that business the appropriate amount of liability coverage.

Not all public liability coverage is the same, and a public liability insurance broker must be able to match businesses with appropriate levels of coverage. Certain businesses may not need as much coverage as others. For example, a business with a busy storefront might need to protect itself from lawsuits related slip and fall accidents that occur in their store, but a business that operates out of a small office may not need to protect against those kinds of accidents.

Individuals wishing to become a public liability insurance broker should understand that insurance brokers must have specific job skills. Insurance brokers should have a firm grasp of mathematics for performing risk assessment and financial calculations. They should also have good interpersonal skills to be able to effectively consult and sell to commercial clients. Since they often work as independent agents, insurance brokers must also have excellent time management skills and be able to seek out prospective clients on their own initiative.