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 ?
There are about 26 Lakh registered insurance agents that sell insurance directly to consumers.
The Indian Insurance regulator, IRDAI, has made it mandatory for agents to pass the exam before becoming an insurance agent.
This approach accounts for the general concept under Ohio law that insurance agents owe no duty to third parties.
iDIALERpro predictive dialer and CRM solution to life and health insurance agents in all 50 states.
Does the PEO work only with insurance agents, or does it have a sales force that calls on prospects directly?
Type and size of desired risk: Rockwood can place virtually any type of Insurance Agents E&O account.
As a result, it is crucially important to our society for insurance agents as a group to be collectively pursuing families and reminding them to take the necessary steps to increase their financial security.
Council of Insurance Agents & Brokers: Employee Leaderships Benefits Forum, May 30-June 2, The Greenbrier, White Sulphur Springs, W.
When talking with members and potential members, our agents have consistently encouraged them to call their current insurance agent and ask about their exact coverage.
On the other hand, insurance agents sell a product that pays a commission unrelated to the time spent.
Under the alliance, Assurance Partners Bank will serve as a preferred provider of mortgage products to independent insurance agents across the nation.
It's just another product we can offer our clients who are in need of it,'' said Vic Nader, a Canoga Park insurance agent and registered representative with Bloomington, Ill.

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