Understanding the Insurance Broker of Record Letter and its Importance

Are you a business owner seeking the best insurance coverage for your company? Have you heard about the insurance broker of record letter but don’t know where to start? Look no further!

A broker of record (BOR) letter is a legal document that designates an insurance broker or agent to act on behalf of a policyholder. This letter is usually required when a company changes its insurance coverage, and it allows the designated broker to make decisions regarding the coverage and policies of the insured.

If you’re feeling overwhelmed by the BOR letter process, don’t fret! Many resources are available to help guide you through it. You can find examples of BOR letters online and edit them as needed to fit your specific needs.

A BOR letter can have a significant impact on your insurance coverage and premiums, so it’s important to ensure your letter is accurate and includes all necessary clauses. With proper guidance and attention to detail, you can create a BOR letter that protects your business while minimizing costs.

Don’t let the process of creating a BOR letter scare you away from finding the best insurance coverage for your company. Start by researching examples and working with a knowledgeable insurance broker to guide you through the process. With a little effort, you can save time and money while securing the best protection for your business.

The Best Structure for an Insurance Broker of Record Letter

When it comes to writing an insurance broker of record letter, structure is key. This letter essentially outlines a change in brokers for a particular insurance policy, so it’s important to make sure that the document is organized and easy to follow. Here are some tips for structuring an effective broker of record letter.

First and foremost, it’s crucial to include all of the necessary information in the letter. This includes the name of the insured, the insurance policy number, the effective date of the change, and the name and contact information of both the current and new brokers. Make sure to double-check all of this information for accuracy before submitting the letter.

Next, consider starting the letter with a brief statement explaining why the change in brokers is taking place. This can help provide context for the rest of the letter, and can also help to ease any concerns that the insured may have about the switch.

After this initial statement, it’s a good idea to include some specific details about the new broker. This can include a brief description of their experience, any relevant licenses or certifications they hold, and any particular areas of expertise they bring to the table. This can help the insured feel confident that they are making the right decision by switching brokers.

Following this information about the new broker, make sure to outline any specific steps that need to be taken in order to facilitate the change. This may include providing written notification to the current broker, filling out new paperwork with the new broker, and canceling any existing automatic payments or renewal notices.

Finally, wrap up the letter with a clear call to action. This can include something as simple as asking the insured to sign and return a confirmation of their agreement to the change, or providing a specific deadline by which all necessary paperwork must be submitted.

With all of this information included, a well-structured broker of record letter can help ensure a smooth transition between brokers and keep everyone on the same page.

Seven Insurance Broker of Record Letter Samples

Sample 1: Recommending a Broker Due to High Customer Satisfaction

Dear [Broker],

I am writing to recommend you as an excellent insurance broker of record to represent our company. Your track record in the industry is impressive, and we have received exceptional services from you in the past. Your team’s ability to promptly respond to our inquiries and handle our insurance needs with tact and professionalism is commendable.

As a company, we place a high value on customer satisfaction, and you have consistently exceeded our expectations in this area. We have no doubt that you will continue to provide exemplary services, and we hope to continue our partnership with you for years to come.

Thank you for your continued support and exceptional services.


[Your Name]

Sample 2: Recommending a Broker for their Comprehensive Packages

Dear [Broker],

It is with great pleasure that I recommend you as an excellent insurance broker of record. Your company’s comprehensive insurance packages are second to none, and we appreciate the effort you put into tailoring them to meet our specific needs.

In addition to the breadth and depth of your packages, your team works diligently to ensure that we understand the intricacies of our insurance policies. You explain the details in a clear and concise manner, which has enabled us to make informed decisions when it comes to our coverage.

Thank you for your attention to detail, and we look forward to continuing our partnership with you.

Best regards,

[Your Name]

Sample 3: Recommending a Broker for Their Competitive Rates

Dear [Broker],

I am writing to recommend you as an excellent insurance broker of record due to your competitive rates. Your staff always work hard to ensure that we get the best possible prices without compromising on the quality of our coverage.

We have enjoyed substantial savings since working with your company. As a result, we have been able to allocate more resources to other areas of our business. We appreciate your efforts to lower our insurance costs and provide excellent coverage.

Thank you for your dedication to providing the best coverage possible at competitive rates.

Warm regards,

[Your Name]

Sample 4: Recommending a Broker for Their Industry Expertise

Dear [Broker],

I am writing to recommend you as an excellent insurance broker of record due to your vast knowledge and experience in the industry. Your team possesses in-depth information regarding policy options that we require to find the best coverage that suits our needs.

You have a wealth of knowledge that has been invaluable to our business, and we appreciate your efforts to always stay abreast of the latest industry developments. Your insights have allowed us the ability to make informed and strategic decisions regarding our insurance coverage.

Thank you for being an excellent resource for our company in terms of insurance knowledge and expertise.


[Your Name]

Sample 5: Recommending a Broker for Their Remarkable Customer Service

Dear [Broker],

It is with great pleasure that I recommend you as an insurance broker of record with exceptional customer service abilities. Your team’s high level of professionalism and attention to detail is second to none.

You go above and beyond to ensure that our insurance needs are met and our queries are promptly answered. Your team is always available to answer our questions, and we appreciate the promptness with which you handle our requests.

Your customer service is exceptional, and we thank you for always going above and beyond for our company.


[Your Name]

Sample 6: Recommending a Broker Due to Their Flexibility

Dear [Broker],

It is my pleasure to recommend you as an insurance broker of record given your team’s flexibility and willingness to adapt to our ever-changing insurance needs. Your team has been with us for a long time, and you’ve continuously proven your ability to adapt to our dynamic industry.

We appreciate your ability to work with us through every stage of the process and deliver relevant solutions in a flexible and efficient manner. Working with you has been a joy and allowed us the freedom to concentrate on our core competencies.

Thank you for your flexibility and outstanding service over the years.


[Your Name]

Sample 7: Recommending a Broker for Their Timely Response Time

Dear [Broker],

It gives me immense pleasure to recommend you as an insurance broker of record thanks to your team’s rapid response and turnaround time. Your ability to quickly address our concerns and guide us through the insurance process has been significant.

Your quick responses make all the difference in times of need, and our business could not have managed so well without your timely assistance. We appreciate your robust support during critical times and your ability to always be there when we needed you.

Thank you for being a trusted partner in managing our insurance needs efficiently.

Warm regards,

[Your Name]

Tips for Writing an Insurance Broker of Record Letter

An insurance broker of record letter is a formal document that allows one insurance broker to become the primary broker for a client’s insurance policies. This letter is essential for insurance brokers as it gives them the power to provide clients with the best possible services by accessing and managing their insurance policies. Here are some related tips to consider when writing an insurance broker of record letter.

1. Address the Letter to the Right Party: It is essential to address the letter to the person who has the authority to approve the new insurance broker of record. Typically, this person is someone in a senior management position in the company.

2. Explain the Benefits: In your letter, make sure to explain the benefits of working with your agency. Be specific about the services you offer and how they can help the client. Highlight any unique selling points that set your agency apart from competitors.

3. Keep it Professional: The letter should be professional and formal in tone. Use appropriate language and avoid using slang or jargon that the client may not be familiar with. Additionally, ensure that the letter adheres to any industry regulations and guidelines.

4. Include Pertinent Information: Your letter should clearly state your agency’s name, address, phone number, and other contact details. Also, include the name of the client you are seeking to represent, the name of their current insurance broker, and the types of insurance policies they have.

5. Provide a Deadline: It is essential to provide a deadline by which the client should respond to your letter. This will help you to know when to follow up and gives the client a sense of urgency to act on the letter.

6. Close with a Call to Action: End your letter with a strong call to action. Encourage the client to choose your agency by providing a clear and straightforward course of action that they can follow.

Successfully writing an insurance broker of record letter requires careful consideration of the client’s needs and effective communication of your agency’s services. By following these tips, you can craft a professional and compelling letter that maximizes your chances of becoming the client’s broker of record.

Insurance Broker of Record Letter FAQs

What is an insurance broker of record letter?

An insurance broker of record letter is a document that appoints an insurance broker as the official representative for the policyholder. It allows the broker to communicate with the insurance company on behalf of the customer and make changes to the policy.

Why do I need an insurance broker of record letter?

You may need an insurance broker of record letter if you want to switch brokers, but still want to maintain the same policy. The letter will allow your new broker to represent you and work with the insurance company on your behalf.

Can I have more than one broker of record?

No, you can only have one broker of record at a time. Once you sign a broker of record letter, your previous broker is no longer considered your representative.

How do I choose an insurance broker as my broker of record?

You should choose an insurance broker that has a good reputation, experience in your industry, and offers competitive pricing. You should also make sure the broker is licensed and registered with the appropriate state insurance regulatory body.

Can I cancel my insurance broker of record letter?

Yes, you can cancel your insurance broker of record letter at any time by notifying the insurance company in writing. However, if you cancel the letter, your previous broker will become your representative again.

What happens if my insurance broker of record retires or goes out of business?

If your insurance broker of record retires or goes out of business, you will need to sign a new broker of record letter with a new broker. You should contact the insurance company to find out what documentation is required.

How long does an insurance broker of record letter last?

An insurance broker of record letter will last as long as you have the policy. However, you can choose to change brokers or cancel the letter at any time.

Time to Secure Your Business with an Insurance Broker of Record Letter

Now you know what an insurance broker of record letter is, and how it can benefit your business. So, next time you find yourself confused by the insurance world, don’t hesitate to seek the service of a reliable insurance broker. They’ll help you navigate the complex world of insurance and ensure you get the right coverage for your business. Thanks for reading this article, and we hope you found it helpful. Don’t forget to check back regularly for more informative, lifelike articles designed to help you succeed!