Key Characteristics Every Athletic Department Should Seek in a Broker

As the sports risk landscape evolves, understanding and locating the best broker for your needs can feel like a full-contact sport itself. The right broker is a vital component for your organization to stay protected. With so many options on the market, it can be overwhelming to know what qualities to look for. You may end up choosing someone who doesn't have your best interests at heart or lacks the necessary experience and knowledge. To ensure you're getting the best quality service, look for these six key qualities in a broker:

1. Industry Experience & Expertise

An experienced broker brings more to the table than just the average Joe, they come with years of knowledge and have seen it all. With over 30 years in the industry, CBIZ has extensive knowledge and experience designing creative solutions to help protect your teams from loss. We pride ourselves on our consultative approach that allows us to connect with your institution and gain insights into the issues you face day-to-day concerning student-athlete welfare. Our backgrounds were built by sports — we are a team comprised of former athletic trainers, coaches and student-athletes.

2. Relationships with A-Rated Carriers

We’ve all heard it before, networking is key. The saying runs true in the insurance industry as well. If insurance is the right fit to transfer your risk — CBIZ has relationships with every major insurance market in the industry. Our respected position in this business allows us to negotiate the broadest coverage at the most competitive premiums.

3. Responsive Service Team

There’s nothing more frustrating than having a question and not being able to get in contact to help answer it. Imagine if a major injury was sustained during a game and you couldn’t get in contact with anyone to report it. CBIZ’s dedicated team ensures you have immediate and ongoing support, as well as expert industry knowledge.

4. Advocacy

Finding an advocate for your team is crucial if you want to feel secure with your coverage. Unfortunately, filing a claim is when you really find out just how good your insurance is. Our team quickly and efficiently handles claim and underwriting issues with your best interest in mind. This includes assistance with claim filing, management and resolution, as well as regular claims-review meetings.

5. Safety & Loss Control Services

The one constant in life is change. Over time, your risks and needs will evolve. We’ll help you create plans for the future while still being cost-friendly. We’re experts in cost containment without compromising student-athlete welfare. Our goal is to identify areas ripe for improvement and constantly build a culture of administrative efficiency that reduces expense.

6. Excellent Communication

If there’s a new compliance regulation, you’ll need someone who stays up to date to avoid any penalties or gaps. CBIZ tracks trends and best practices that may change how you manage your student-athlete medical expenses. An annual evaluation of your program’s risk transfer strategy and performance will allow us to consult with you on improvements and recommendations.

Let Game Plan Decisions be Easy With CBIZ Borden Perlman Sports

Don't break a sweat trying to find the perfect insurance broker for your sports organization. Keep an eye out for these key qualities to make sure you're getting the best quality service possible.

As a nationally approved brokerage, along with our exclusive programs, we can help your athletic department with more than just the risks and exposures related to intercollegiate insurance. Our knowledge goes beyond insurance to include deep insights into the collegiate sports world and student-athlete welfare. To learn more about how CBIZ Borden Perlman Sports can protect your teams, connect with us today.

This blog may contain scenarios that are provided as examples only. In an actual claim situation, coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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