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Out on their own and looking to clean up the insurance broker industry

Two insurance brokers who formerly worked for Crombie Lockwood have gone out on their own, looking to "clean up" the insurance broker industry with their approach.

Friday, November 13th 2009, 8:45AM 3 Comments

by Jenha White

Paul McCarrison and Mark Hayes launched their new business McCarrison Hayes a month ago and it has begun operating from Hamilton and Auckland offices.

Hayes says they went out on their own because they thought they could offer customers better value and a better job.

“We’re trying to raise the industry by being transparent and professional, we want insurance brokers to be viewed in a similar light to accountants and solicitors,” he says.

The pair aim to do this by avoiding practices commonly seen in the insurance broker industry that they don’t agree with.

“There’s a trend in the industry for taking commission and feeing on top of it – we’re not going to do that, we’re going to be transparent with the way we work.”

Hayes also says that some insurance brokers don’t manage insurance for their clients. However McCarrison Hayes will be taking and managing insurance on behalf of their clients.

The pair says Crombie Lockwood as a corporate broker was a good training ground to learn their various skill-sets and they are appreciative for all the knowledge gained, however they believe the decision to go out on their own was made at the right time as the economy heads through its recovery.

“We believe it is the right time to stand on our own two feet and determine our future even though many people view setting up a new business in the time of a recession risky,” Hayes says.

“We believe that in these times there are great opportunities for new successful businesses to emerge and we aim to be one of these.”

Hayes says his skill-set as a fire and general specialist and McCarrison’s specialisation in liability compliment each other giving them a wide range of knowledge and skills to see their business succeed.

Jenha is a TPL staff reporter.

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Comments from our readers

On 13 November 2009 at 8:26 pm Billy the broker said:
I did'nt realise there was trend to take commission and charge fees as well within the insurance industry??? I wait with baited breath for this double tag team to make massive changes in our industry. Im sure being specialists in general and liability insurance ( of which Im sure these guys are exceptional) will turn it all around and make the public feel safe and sound!! Bit of advice do not come across as you are better then the rest of us who are also doing a good professional job and do have the respect of our clients who do put us up with lawyers and accountants!!! Do not try and reinvent the wheel guys just blend in. Respect yourselves and dont feel that you have to be like lawyers and accountants because over the years I have met more decent and honest insurance brokers then those other two types of business people. Comments please???
On 14 November 2009 at 10:36 pm Kevin the broker said:
Who do these guys think they are? What a lot of nonsense...
On 6 December 2009 at 7:20 pm Alan said:
I don't believe there is a trend to charge fee's . regulation will insure best practice is the bench mark . I'm always a bit weary when brokers come across as holier than thou. It's being disingenuous in a period of change to suggest other wise . What has impressed me with the insurance industry has been the level of accountability shown by the
Brokers i have met. Also the willingness to share best practice methods .
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