According to new research commissioned by Bowring Marsh, the Specialist International Placement Broker at Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.

The research, undertaken by an independent research firm in seven major global insurance centres, asked underwriters to identify their most important considerations when deciding whether to quote for a risk. Almost half those surveyed said that the quality of a broker’s presentation of risk was most important; 30% said that the most important factor was the client’s approach to risk, while 21% cited the underwriter’s relationship with the broker.

Commenting on the research, Nick Bacon, CEO of Bowring Marsh, said: “These results send a clear message to insureds: if they want to obtain the most competitive rate for their risk, they need not only to have a superior approach to risk management, but also work with the broker best able to present their risk to insurers.

“I am pleased that the research also showed that Bowring Marsh has a strong reputation for the quality of its risk presentation. Our clients entrust us with placing their most complex risks in the international insurance market, and securing competitive packages on their behalf.

“To achieve this goal, Bowring Marsh is committed to maintaining the highest standards in its insurance submissions and its negotiations with insurers. These research results are testament to the commitment and dedication of the Bowring Marsh team’s work to secure superb results for our clients.”