Saturday, November 21, 2009

Difference between an Insurance Agent & an Insurance Broker

 

agentbroker

An Agent is appointed by an Insurer to procure business for the insurance company, all acts carried out by the Agent in conjunction with the agency agreement have the same effect as being carried out by the Insurer.

A Broker advises his clients on their insurance needs and negotiates insurances on their behalf with Insurers.

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