What is rebroking?

Answer 1

Rebroking refers to the process where a broker seeks to find better terms or rates for an insurance policy by approaching multiple insurers on behalf of the client. This is typically done when the original policy is up for renewal or when a client is dissatisfied with their current coverage. The goal of rebroking is to secure more favorable terms, such as lower premiums or enhanced coverage options, ultimately benefiting the client. It often involves a thorough review of the client's needs and market conditions.