Insurance Broker Vs. Agent in The United States
Though not an absolute separation; an insurance agent is an insurance company's representative by way of agent-principal legal custom. The agent's primary alliance is with the insurance carrier, not the insurance buyer. In contrast, an insurance broker represents the insured, generally has no contractual agreements with insurance carriers, and relies on common or direct methods of perfecting business transactions with insurance carriers. This can have a significant beneficial impact on insurance negotiations obtained through a broker (vs. those obtained from an agent).
Of note, the term insurance producer generally encompasses both an insurance agent and an insurance broker.
Read more about this topic: Insurance Broker
Famous quotes containing the words united states, insurance broker, insurance, agent, united and/or states:
“In one notable instance, where the United States Army and a hundred years of persuasion failed, a highway has succeeded. The Seminole Indians surrendered to the Tamiami Trail. From the Everglades the remnants of this race emerged, soon after the trail was built, to set up their palm-thatched villages along the road and to hoist tribal flags as a lure to passing motorists.”
—For the State of Florida, U.S. public relief program (1935-1943)
“The Republican convention, an event with the intellectual content of a Guns’n’Roses lyric attended by every ofay insurance broker in America who owns a pair of white shoes.”
—P.J. (Patrick Jake)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)
“The average American is a good sport, plays by the rules. But this war is no game. And no secret agent is a hero or a good sport—that is, no living agent.”
—John Monks, Jr., U.S. screenwriter, Sy Bartlett, and Henry Hathaway. Robert Sharkey (James Cagney)
“I am a freeman, an American, a United States Senator, and a Democrat, in that order.”
—Lyndon Baines Johnson (1908–1973)
“The traveler to the United States will do well ... to prepare himself for the class-consciousness of the natives. This differs from the already familiar English version in being more extreme and based more firmly on the conviction that the class to which the speaker belongs is inherently superior to all others.”
—John Kenneth Galbraith (b. 1908)