Insurance Broker Law and Legal Definition
Insurance brokers are insurance firms or an individual who find and sells insurance policies. An insurance broker acts for an on behalf of the customer who needs a policy. The duty of an insurance broker is to find appropriate policy for the customer.
Major difference between an insurance agent and insurance broker is that an insurance agent works on behalf of the insurance company, whereas the insurance broker is the agent to the customer.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]