An insurance broker will help you identify the risks you are exposed to. The broker will advise you on what insurance products are available for these risks and, at your request, source the insurance covers that suit your needs from any number of local or foreign insurers. The broker will discuss the various options with you and help you select the best option and when agreed place the cover with the chosen insurer and arrange the documentation. The broker will also help you with general insurance advice and look after any amendments to the policies that may be required. In the event of a claim, the broker will assist you in the submission of the claim and will liaise between you and the insurer to bring the claim to a successful resolution.

In both business and private matters it is important that you have the right insurance cover. Wrong or inadequate protection can lead to dreadful consequences, thus the right advice makes all the difference and prevents costly mistakes. An insurance broker is a specialist in insurance protection, is independent and has invaluable know-how of the insurance market as well as access to the most reputable insurers available to provide professional and objective advice on identifying and exposing risks and recommend the most cost effective solutions.

An insurance broker offers a range of services from arranging new covers, insurance quotes, renewals and assists on claims; covering all classes of insurance business be it Personal Lines to Commercial Lines, Marine or Aviation. The broker forms an ongoing relationship with you to acquire all the knowledge required to provide a better service to you.

Brokers give advice and assist you in compiling and submitting your claim to the insurer. They arrange for a claim form to be completed by you, monitor the claim process and liaise between you and the insurer to bring it to a successful resolution.

No, notwithstanding the fact that both are insurance intermediaries, there is a big difference between the two. Whereas an insurance agent acts on behalf of one or more insurance companies and can only access the products offered by the insurers the agent represents, an insurance broker is a full-time insurance professional, who works for you and acts on your behalf. The broker is independent, obliged to act in your best interests and can arrange the best protection for you at a competitive rate.

Insurance brokers require a license to transact insurance broking under the Insurance Intermediaries Act, 2006 and are regulated by the Malta Financial Services Authority.

When insurers calculate their premium rating, this also includes a standard distribution cost. Essentially, this means that whether you use an insurance broker or go directly to the insurer, the price will generally be the same. You should keep in mind that the cheapest price may not always reflect good value. Using an insurance broker may not cost you more and, as far as possible, the broker will help you prevent uninsured losses.

Brokers receive a commission (brokerage) from insurers on the business they place with the insurers. The commission normally takes the form of a percentage on the premium paid.

Our services are based on our appointment as your insurance brokers. So these services are provided free of charge to you.

There are certain areas, however, where we may charge fees to a client for services that do not form part of the broker’s appointment. Such services may include assistance in claims recovery where we may not have been appointed as insurance brokers; or assistance in effecting recovery from a third party in the event of an uninsured loss. Any fees and terms of reference will always be discussed with you beforehand.

Thomas Smith Insurance Brokers is a young, independent, dynamic and flexible broker; part of the Thomas Smith Group that is laden with many years of experience in the insurance industry. We offer a vast insurance product range at competitive prices sourced from the most reputable insurers both locally and overseas.

Our clients vary from individuals insuring their only motor vehicle to small-medium sized businesses to large companies that have invested millions in their business and want to have continuous peace of mind. We have placed risks that are situated both in Malta and overseas but our service commitment to you will always be high irrespective of size and location.

Once you appoint us, we work for you and provide you with continuous assistance to satisfy your insurance needs. When you talk to Thomas Smith Insurance Brokers, you deal with insurance professionals who know how to match your requirements with the right policy, and the right insurer at the right price. In the event of a claim we guide you and provide you with all the assistance possible to ensure a fast and satisfactory settlement of claims.

By signing a broker’s appointment you are confirming that you have appointed a firm to act as your Insurance Broker within the scope of the Insurance Intermediaries Act, 2006.

Risk management is the identification, assessment and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor and control the probability and / or impact of unfortunate events.

Measures can range from the installation of fire or intruder alarms to having adequate contingency plans in place. Safety and health audits are other measures that can mitigate risk.

First and foremost you need to check whether your vehicle requires a VRT test. In the case it needs one, please ensure you do this as soon as possible and do not leave it till the end of the month to allow enough time to rectify any unforeseen issues that may arise.

If you have a comprehensive or a fire & theft policy, you need to review the value of your car. Are you satisfied that the sum insured by the policy is still adequate and reflects the present day value of your car? If you’re not sure or would like to change either value or something else in your policy, phone us on +356 2205 8580 and we will discuss your concerns.

Otherwise you could renew your policy by just mailing your payment to Thomas Smith Insurance Brokers or paying via wire transfer through your internet banking facility to:

HSBC Bank (Malta) Plc.
Account number: 033-274366-002
IBAN number: MT70 MMEB 4433 6000 0000 3327 4366 002

If you send us the payment via wire transfer, please do remember to send an email to [email protected], confirming the renewal instructions and advising us the registration details of the car in question.

Please remember also to include in your payment the car license fee as well as any parking / speed fines and CVA charges that you may have incurred and are still outstanding at the time of renewing your insurance.

Motor vehicles depreciate and the value of cars is constantly changing. It is your responsibility to ensure that the sum insured reflects the current market value and provide us with this. It is in your interest as in the event of a total loss claim you will be paid up to the current market value of your car.

A travel insurance policy does not just cover various risks during your trip overseas but also offers cover against Cancellation and Curtailment Charges. Therefore to enjoy the full benefits of the policy it is advisable that you take out the insurance immediately when you pay for your flights, accommodation etc.

A pre-existing condition may affect your health insurance coverage. Most companies will not cover such conditions whilst others may exceptionally accept you conditionally by providing a pre-existing condition exclusion period.

No claim is the same. The moment you are aware that you may need to make a claim against your insurance policy, you need to inform us immediately by either calling us on +356 2205 8580 or else sending us an email on [email protected]. We will take it from there and assist you step by step accordingly.

In the event that you have suffered a loss outside our opening hours, you need to remember some basic tips:

Motor accident – complete front-to-rear form if applicable, file report with wardens or police (in case of injury) and ensure you have all the details of the other parties involved in the accident.

Fire or theft – file report with police.

Travel claim – file reports with overseas authorities, hotel or airline management depending on the case.

Healthcare claim – you must always have a referral from your G.P.

Claim relating to equipment – get a technician’s report and ensure you keep all faulty equipment and cables.

In all cases you should take photographs whenever possible and inform us as soon as possible.