Insurance agent


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Insurance agent

The insurance company representative and adviser who sells insurance policies.

Insurance Agent

A person licensed by a state and generally employed by an insurance company to sell insurance policies on the company's behalf. The agent generally receives a commission for this service. He/she attempts to extract the maximum value for the insurance company in all his/her dealings. An insurance agent should not be confused with an insurance broker or an insurance underwriter.

insurance broker

or

insurance agent

a person or firm which acts as an intermediary in bringing together clients seeking INSURANCE cover and INSURANCE COMPANIES offering suitable policies. In some cases the agent may simply introduce the two parties to each other and receive a commission from the insurance company; or the agent may be employed by a particular insurance company to sell insurance policies on its behalf, partly on salary and partly on commission. Insurance brokers are usually independent intermediaries who are able to negotiate with a number of insurance companies on behalf of clients in order to secure for them the most advantageous cover and terms, as well as handling claims and offering general insurance advice. Most of the larger insurance brokers are members of LLOYDS, a corporation of brokers and insurance companies. Insurance brokers are regulated by the FINANCIAL SERVICES AUTHORITY in accordance with various standards of good practice laid down under the FINANCIAL SERVICES ACT 1986.
References in periodicals archive ?
3962) that guarantees that licensed professional insurance agents will be able to sell health insurance policies offered through proposed health insurance exchanges.
8 /PRNewswire/ -- The following is being issued by the Professional Insurance Agents of Louisiana:
We're primarily a lobbying organization representing the interests of, first and foremost, the independent insurance agent, as well as the insurance industry," he said.
Their frustration levels run high with this market's availability and pricing problems, but agents also know a professional-liability policy is a must in a nation where litigation is commonplace and courts have begun holding insurance agents to the same level of professional standards as attorneys, accountants and others.
Independent insurance agents in Pennsylvania got a whole lot stronger on Wednesday, Dec.
Life insurance agents may have to band together to survive the recent downturn in sales.
More than three-quarters rely heavily on the services of their insurance agents or brokers and want to preserve that relationship.
CONTACT: Katy Shea of the Association of Health Insurance Agents, 202-331-2168/
The judge rejected that argument, saying that "technological advances" have made it unlikely that a South Dakota customer actually has personal contact with his insurance agent even when that individual is located in the same city.
The regulator said, 'An applicant shall pass in the Insurance Agency Examination conducted by the Examination Body in the subjects of Life, General, and Health Insurance as the case may be, as per the syllabus prescribed by the Authority to be eligible for appointment as an insurance agent.
To assert a negligent procurement claim in Ohio, a person must establish that the insurance agent owed a duty to obtain the coverage its insured requested.

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