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With the increased emphasis on health insurance and financial concerns, the outlook is good for individuals who want to become an insurance broker or agent. In addition to insurance, these brokers often sell mutual funds, annuities, and securities as well. more »
Parents want the best health care for their children, but sometimes financial, family or job situations change, placing family health insurance in jeopardy. Many short-term and long-term solutions are available that provide affordable health care for your children. more »
Choose the minimum amount of insurance necessary for you and your family if you are just trying to cover unexpected medical costs. There are many types of health insurance policy options available through employers, brokers and private insurance companies. Employees are not required to take insurance policies offered by their... more »
Income-tax preparation courses are usually offered in the fall, and help train applicants to provide tax services to the general public. The courses are often hosted by tax-preparation-services providers, who hope to bolster their employee and independent-contractor numbers before tax season begins in earnest. Not all students taking... more »
Congratulations on your new baby! Keeping infants safe and healthy is a concern of all new parents.
Having an established health insurance policy in place prior to the arrival of your infant provides peace of mind. Remember to add your baby to your existing insurance policy. If this is not possible, start up a new insurance policy... more »
One of the most important thing a person can have that tends to go overlooked is insurance. Be...
Although welfare benefits are seen by some as a handout, public assistance can help families...
Medical procedures and prescription drugs are becoming increasingly expensive and can be hard to...
Managed care is a catch all phrase that describes services provided by various groups such as...
If you don't mind working hard and studying, you can become a Canadian Home Insurance Broker. Start working for one, preferably with the CAIB and... more »
If you're looking for a career in the insurance industry, consider becoming an auto insurance broker. Everyone needs insurance for their... more »
In the U.K., insurance brokers act as intermediaries between insurance companies and insurance buyers, advising prospective policyholders on the... more »
Insurance is a necessary, and often required, purchase for nearly every American. Whether insurance is needed to protect one's car, home, boat,... more »
Everyone needs insurance. Since most insurance in the United States is sold by brokers to individuals and small businesses, brokering insurance is... more »
An insurance broker represents a person, rather than an insurance company. For this reason, a broker will try to find the best insurance rates... more »
An insurance broker (agent) finds sources for (brokes) contracts of insurance on behalf of their customers.
Insurance brokerage in the UK
The term Insurance Broker became a regulated term under the Insurance Brokers (Registration) Act 1977 which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies. The term now has no legal definition following the repeal of the 1977 Act. The sale of General Insurance has been regulated by the Financial Services Authority since 14 January 2005. Any person broking insurance can now call themselves an insurance broker.
Insurance brokerage is largely associated with general insurance (car, house etc.) rather than life insurance, although some brokers continued to provide investment and life insurance brokerage until the onset of more onerous Financial Services Authority regulation in 2001.
Insurance broking is carried out today by many types of organizations including traditional brokerages, Independent Financial Advisers (IFAs) and telephone or web-based firms
Insurance brokerage in the United States
Insurance brokerage in the United States is also a regulated industry, with almost all states individually issuing brokerage licenses. Most states have reciprocity agreements whereby brokers from one state can become easily licensed in another. There are exceptions to this, most notably in the case of Hawaii, where all licensed brokers must live in the islands.
Because of industry regulation, smaller brokerage firms can easily compete with larger ones, who are forbidden by law from providing their customers with rebates or other discounts on the policy prices of insurance companies.
Brokers play a significant role in helping companies and individuals find property and casualty (liability); life and health insurance. For example, research shows that brokers play a significant role i read more at » http://en.wikipedia.org/wiki/Insurance+broker
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