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An insurance broker differs from an insurance agent in that a broker is considered an agent of the Insured even though he or she may receive a commission from the insurance company A broker may sell the products of a number of insurers whereas an insurance agent has the Insurer as his principal and works in the interest of the Insurer and not the Insured
Wiki User
∙ 15y ago
Wiki User
∙ 10y agoThere are many important differences between insurance brokers and insurance agents. The main differences that one should note is that insurence agents are individuals that work between the company and the insured and brokers sell products to the insured.
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Where can I get a listing of insurance agents and brokers in Phoenix, AZ?
You can find a list of insurance agents and brokers in Phoenix Az at lawyers.com.
What is the average salary of insurance agents & brokers?
In most cases insurance agents and brokers work on a commision basis. So your income is based on how much insurance you sale.
How do commercial insurance leads benefit insurance brokers and agents?
Insurance agents and brokers can help a business owner sort through the array of health insurance plans available to find one that fits the needs and budget of a company.
On what basis are insurance brokers employed?
Brokers, in contrast to agents, do not necessarily work under the authority of an insurance company. Rather, brokers place insurance policies for their clients with the carrier offering the most appropriate rate
What challenges did insurance brokers and agents face in the year 2000?
new competition in the insurance industry, by banks and other financial firms, began to put pressure on insurance brokers and agents, who began to lower their prices in an effort to remain competitive
What are agents and brokers?
Agents and brokers are prople who have s** with there siblings
What are the names of two independent insurance brokers in Dallas?
Names of two independent insurance brokers in Dallas are Eddie Torea and CJ Lingberg. For a full list of independent insurance agents in Dallas you can visit the Yellow Pages website.
Are there any independent insurance agents and brokers in Southeastern Massachusetts?
There are a few indpendent insurance agents in southeastern MA. Here are a couple: http://www.hannon-ryan.com/ and http://www.rogersgray.com/massachusetts-insurance.asp .
What is the work of insurance agents and brokers?
Although their primary function is to sell policies offering financial protection against loss, agents and brokers may also help their clients plan for personal, family, or business financial security.
What companies provide extended warranty insurance in Milwaukee, WI?
Milwaukee Insurance Agents and Brokers in Insurance Services ,Extended car warranties provides extended warranty insurance in Milwaukee
What is the difference between a producer and Agent?
None. There are several different types of insurance agents. "Producing Agents" are often referred to as Producers, Meaning they generally deal with the public and accept applications for insurance.
What role does a insurance advisor have?
An insurance advisor/agent gives probable customers knowledge about an Insurance Plan and sell Insurance Policies. There are three types of insurance agents : 1. Life Insurance Agent. 2. General Insurance(Non-Life) Agent. 3. Composite Insurance Agent(i.e. both life and non life agent). An insurance broker can also be an insurance advisor. Difference between an insurance agent and an insurance broker are: 1. An insurance agent is employed by only one general insurance company or one life insurance company or both(depending on the type of Agent) but an insurance broker can work with any insurance company(Life or General). 2. An insurance agent is accountable to Insurer(insurance company) but an insurance broker is accountable to customers, i.e. an insurance broker works on behalf of customers to seek a better insurance plan. 3. Both agents and brokers are reimbursed by insurance company. 4. There is no capital requirement for Insurance Agents but Insurance brokers must have capital of Rs. 50 lakhs for direct broker, Rs. 1 crore for reinsurance broker and Rs. 2.5 crore for composite broker. Generally Insurance brokers works with big businesses whereas agents work with all type of businesses.
