Corporate insurance lives on two desks: the broker's, who sees the risk and the market, and the accountant's, who sees the numbers and the bookkeeping. A portfolio is truly in order only when the two desks talk to each other – a nod from Bea, the accountant, isn't a formality, it's a quality seal.
- The broker's job is the cover: against what, at what premium, on what terms. The accountant's job is the accounting: how it all shows up in the books.
- Tax and accounting treatment follows the tax rules in force at any given time – the final word on these belongs to the accountant.
- One joint round a year – before renewal – prevents most misunderstandings.
Who sees what – and what don't they?
The broker sees the risk side: what's covered, what isn't, where the value for money is good, what the partner or the bank is asking for. What they don't see: the company's tax position, the payroll-side implications of benefits, the finer points of accounting. The accountant is exactly the reverse: every invoice and payslip runs through their hands, but knowing what's inside the policies – limits, exclusions – isn't their job. The mistake typically happens in the no-man's-land between the two: cover introduced as a benefit that the accountant only hears about afterwards; an item booked as a cost whose classification is questionable. The fix isn't complicated: both sides need to see the same list – the portfolio inventory.
What should the accountant ask the broker?
Four questions that save Bea a lot of trouble: What new contracts or amendments are expected this year? Which cover serves a benefit-like purpose, and who are the insured? Is there a contract whose beneficiary or assignee is a third party (bank, leasing company)? And: which premiums belong to which period (because of the accrual of renewal-date premiums)? The broker answers these – documented, so bookkeeping doesn't have to guess.
What should the broker ask the accountant?
The reverse direction matters just as much: What revenue and headcount is the company planning for (the base data for liability and group cover)? Was there a significant asset purchase or sale (to update asset values)? Is the company planning to expand benefits, and from what budget? The answers feed straight into the annual review.
And what lies beyond both
An important boundary: whether insurance premiums are deductible and how benefits are taxed follows the tax rules in force at any given time – the final word on this belongs to the accountant, and neither the broker nor this site gives tax advice (nor does the character Bea!). What the broker provides: enough of the right information about every contract for the accountant to decide with confidence. A map of the topics: insurance premium as a cost and the tax logic of benefits.
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