First Insurance World Broking Services not to charge for claims services

Chennai: The city-based First Insurance World Broking Services Private Limited has decided not to charge its clients for claims-related advice. The insurance broking regulations allow brokers to charge their clients for other services offered.

Starting its operations as a group of individual agents, the company grew to become a corporate agent and finally as insurance broker.

According to Akshay M Nahar, executive director, the company has been empanelled with ten non-life insurers and six life insurers. "Our focus will be on the small and the medium sized units. Our target is to do around Rs1 crore business per month."