Round Up Autumn 2018

13 renewal? Presentation is key Getting the correct presentation to insurers first time is very important. A rushed, untidy proposal form with poor responses, or ignored questions, will impact the way your firm is perceived. Ensure your submission is clearly completed, percentages totalled, and that any supplementary information is clearly labelled. If you have had any noticeable change from last year, for example a spike or drop in income, claims or new activity, provide additional supporting information to your broker. Request your broker reviews the information before approaching insurers to ensure nothing is missing. Julian Brincat Head of IFA Practice, Protean Risk To support your application you should provide: -- A separate DB questionnaire to be completed. This is requested by most insurers. -- Information as to how you deal with any introductions from other IFAs or insistent clients. -- A documented internal process on advising on DBs. If you have one submit it to reinforce your application. -- A spreadsheet of all your DB transfers. -- Information on any external companies you use for pre or post-sale checks. -- Be prepared to submit an example of a suitability report where you have advised a client to transfer if requested. features Keep in touch with your broker Once you commence your renewal process ensure you remain in regular communication with your broker and establish deadlines for receiving terms to ensure you have plenty of time to decide. Hopefully these considerations will help you plan and prepare for your renewal and provide you with a bit more insight into how the PII market works. There’s no two ways about it, the market is currently difficult and less straightforward than it has been for a few years. But, by being proactive and concentrating on your renewal, you should effectively minimise any negative outcomes. Let’s hope the market gets easier in the years to come.