A broker or insurance broker is a person who is licensed to sell insurance and typically works with multiple insurance companies offering a variety of products to a customer.

Who is a broker in insurance. An insurance broker sells solicits or negotiates insurance for compensation. In simple terms an insurance broker is an intermediary between a client thats you and one or multiple insurance companies. Who is an insurance broker.

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Insurance brokers and brokerage firms have a higher responsibility for helping you choose the best financial product that fits your needs. Get your quote today. When you work with an insurance broker their loyalty is to you not the insurance companies.

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An insurance broker is the go-between between you and insurance companies. As an insurance broker youll act as an intermediary between your clients who can either be individuals or commercial businesses and organisations and insurance companies and will offer. An insurance broker owes a duty to their client in the law of contract tort and equity.

If there is a contract between the insured and their insurance broker then section 13 of the Supply of Goods and Services Act 1982 provides an implied term that the service provided by the broker must be carried out with reasonable care and skill. As opposed to an insurance agent who offers the products of only one company an insurance broker is able to compare numerous products of the companies heshe works with and thus is often seen as a more. A broker works independently meaning they can offer you a host of insurance products and services to consider.