Who will a large company sometimes utilise to select insurers and brokers?

A large company often employs a risk manager to select insurers and brokers due to the risk manager's expertise in identifying, analyzing, and mitigating risks related to the company's operations. The risk manager understands the company's risk profile and can determine the appropriate insurance coverage and broker services needed to protect against potential liabilities. By leveraging their knowledge of the insurance market and the specific requirements of the business, the risk manager is well-positioned to evaluate potential insurers and brokers, ensuring that the selected partners align with the company's risk management strategy and goals.

Other roles mentioned, such as an actuary, a loss assessor, and an underwriting agency, serve different functions within the insurance process. Actuaries specialize in analyzing statistical data to assess risks and set premiums but are not specifically tasked with selecting insurers or brokers. Loss assessors handle claims and assist in determining loss amounts after incidents occur, focusing on reimbursement and claim management rather than pre-selecting insurance partners. Underwriting agencies typically work on behalf of insurers to evaluate risks and set terms but are also not involved in the selection process of insurers and brokers for a large company.