insurance broker


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Insurance broker

A broker, independent of any insurance company, who represents the interests of the buyer in searching for insurance coverage at the lowest cost and providing the highest benefit to the buyer.

Insurance Broker

A person who sells insurance policies. An insurance broker does not work for an insurance company, but rather represents the buyer of the policy to ensure that he/she receives a fair deal.

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 ?
Each of the policies offered through Cornerstone Insurance Brokers is designed to offer high coverage protection for today's seniors.
Andrew van den Born, executive director, Willis Financial Solutions, said, 'As a recognised industry leader of political and trade credit insurance, we are delighted to be recognized and voted by the broad readership of Euromoney's Trade Finance Magazine as the Best Trade Insurance Broker EMEA and the Best Trade Insurance Broker North America for 2014.
The company should find out from its existing insurance broker exactly what experience it has with placing D & O insurance.
Seek the professional analysis and advice of your insurance broker concerning the unique aspects of claims made insurance.
Your insurance broker will be designing an insurance program based on the information you provide.
The team at Cornerstone Insurance Brokers is now helping drivers across Aurora to save money and achieve more comprehensive auto insurance policies.
A trio of insurance brokers in Wales have been honoured by industry 'bible' the Insurancetimes.
The office in Penrith's Little Dockray will continue to be run with the current six members of staff and Richard Utting, who will be retained by Borderway Insurance Brokers as a consultant.
Bringing the best of responsive design to the online insurance marketplace, Cornerstone Insurance Brokers Ltd.
The China Insurance Regulatory Commission granted approval for Willis to increase its stake in Willis Pudong Insurance Brokers Co.
Monteith, of Galveston, TX, has spent the past 20 years with insurance broker Marsh, most recently as a Senior Vice President in the FinPro team.
Gallagher also acquired FPE Insurance Brokers Pty Ltd.

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