Marine Insurance Broker

Become: Marine Insurance Broker

A degree in any subject is acceptable, although business/management-related or numerical degrees, such as economics or maths, may be beneficial. Relevant banking and/or insurance experience gained via internships and work experience placements can be useful. Postgraduate insurance and risk management qualifications can be advantageous.

Training is normally provided for successful candidates once in post, often leading to professional qualification with the Chartered Insurance Institute.

About: Marine Insurance Broker

Responsibilities of the job vary according to the size and type of employer: smaller companies offer less opportunity for specialisation than larger firms. If employed by a large marine insurance specialist you could be covering areas such as; accidents, cargo and business interruption, trade disputes, piracy among many others.

Typical duties of a broker include:

Building and maintaining business relationships with clients, Scheduling and attending meetings, Discussing and assessing clients' current and future insurance needs, Researching insurance policies and products, Negotiating policy terms and costs with insurance providers, Arranging insurance cover for clients with the insurance provider, Collecting insurance premiums, Keeping records, Preparing reports for insurance underwriters, Advising clients on making claims on their policies, Renewing or amending existing policies for clients, Undertaking general administrative duties, Marketing services.

Source:http://www.miller-insurance.com/specialist_areas/marine.aspx