Facts about using Insurance Brokers

Australia’s brokers are valuable to you

The Australian broking industry is growing stronger as more consumers appreciate more their value as advisors, negotiators and time savers.

The popularity of insurance brokers as a medium for distributing and purchasing insurance will increase as they continue to become better qualified and demonstrate their value to businesses.

There are 3,000 registered insurance brokers  with 25,000 people employed in the sector according to industry research firm Ibisworld.

Industry revenue for 2011/12 is approximately $10.8 billion.

One of the key challenges for the industry will be how to deal with climate change and the increasing number of natural disasters. This is expected to bring price rises from insurers which will require new strategies and negotiations with insurers combining loss control in return for discounts. The ability to present a client’s risk in a more cost effective way will achieve greater outcomes for all.

Another aim for brokers is that going forward, there are fewer underinsured individuals. This depends on their ability to advise and influence their clients and start looking to form relationships with external experts such as Risk Managers, Building Inspectors, Workplace Health & Safety Consultants, Human Resource Consultants and IT Consultants, to name a few who can value add to the risks facing a modern business. A referral network of specific experts to assist business coordinated by an Insurance Broker will demonstrate their value.

It is thought that with the ageing of the general population, older persons are more inclined to insure both themselves and their assets and also have the funds to do so. However, there is no doubt that the Insurance Industry’s ability to educate the general public about Risk and Insurance in a more effective manner will also have a greater effect. How we use the media, the internet and our Professional Associations to do this is another new challenge.

  

Latest News

Three Years running - Insurance Brokerage of the Year 1 to 5 staff

Mandy and Robert Cooper were extremely honoured and astounded to once again win, Insurance Brokerage of the Year for 2020 from Insurance Business Australia magazine. This is the third year running.

While this year has not been the easiest of years for the business with Covid 19, the Recession, the hard market and issues at Lloyds of London, we are literally all in this together as an Insurance Industry.

CPR Insurance Services continues to make our clients the number one focus of our business while managing our relationships with Insurers, who we need more than ever in this market climate.

CPR Insurance Services are a highly ethical Brokerage with a reputation as a trusted advisor who always acts in the Client's best interests. Their experience, knowledge and expertise is amongst the highest in the industry.

CPR Insurance Services is now ten years old as a business and is proud of being an Authorised Representative of Ausure and their partnership with Steadfast, giving CPR the strength and backing to match it with any Broking firm in the Insurance Industry, but remain focussed on supporting the Small to Medium business segment.

Memberships of the National Insurance Brokers Association, Australia and New Zealand Institute of Insurance and Finance, Australian Insurance Law Association, Australian Professional Indemnity Group and the Australian Institute of Company Directors, ensures CPR Insurance Services maintains the high standard of knowledge and expertise required to be one of the best Brokerages in Australia.

CPR Insurance Services also plays a strong role in their local community supporting other Sporting Clubs and Community organisations. They also support and promote local businesses with their operation of the Kedron Brook Business Group who meet regularly and has 174 members.

We are truly honoured to receive this National award once again for the third year as a recognition of CPR Insurance Services contribution.

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Finalist for QLD Broker of the Year

Robert Cooper was honoured to be nominated as a finalist for Queensland Insurance Broker of the year for 2020, as part of the National Insurance Brokers Association. Unfortunately he missed out on the ultimate award but is a reflection of the high standard that the industry now has for such awards.

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