Insurance panels

MoneyMachine_2

Does anybody here know the largest panels of insurers around and who brokers for them??

I am trying to find as many panels as possible for all types of insurance - including commercial. Would I be best asking an insurance broker?? Or do insurance brokers generally research the whole market themselves rather than using a panel??

I did see someone posting on this site a few months ago who said they previously sold commercial insurance - but I have been unable to find that particular posting.

Any help much appreciated

MM

rhartley

Most brokers or intermediaries use what they term a "panel" of insurers and this could range from less than 10 companies to (in theory) hundreds.  In practice, the number of individual quotations sought will be much more limited: partly because a good broker will already know who is likely to offer the best terms.    For commercial insurance quotations, the average number of separate insurers approached would be between 5 and 10.  

Motor, home, van and motorcycle quotations tend to be fully computerised and an agent chooses from a range of quotations.  However, although there are may be over 100 insurance products displayed on the screen, many will be variations of the same product from a significantly smaller number of insurers, typically 10-20 companies.

Most brokers concentrate on a fairly restricted market in each type of insurance but good brokers will know of specialist markets to approach for unusual or hard to place risks.