Broker

Advertisement

Broker an individual who receives commissions from the sale and service of insurance policies. These individuals work on behalf of the customer and are not restricted to selling policies for a specific company but commissions are paid by the company with which the sale was made. What is Broker , What does mean Broker , Insurance Guide, Insurance Glossary

Advertisement

Related Broker Articles

  • Group Annuities – Deferred Non Insurance Glossary
    Group Annuities – Deferred Non Variable and Variable an annuity contract that provides an accumulation based on both (1) funds that accumulate based on a guara... more
  • Fidelity Insurance Glossary
    Fidelity a bond or policy covering an employer's loss resulting from an employee's dishonest act (e.g., loss of cash, securities, valuables, etc.). What is Fi... more
  • Underwriting Insurance Glossary
    Underwriting the process by which an insurance company examines risk and determines whether the insurer will accept the risk or not, classifies those accepted a... more
  • Long Term Care policies Insurance Glossary
    Long Term Care policies that provide coverage for not less than one year for diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care... more
  • Unpaid Losses Insurance Glossary
    Unpaid Losses claims that are in the course of settlement. The term may also include claims that have been incurred but not reported. What is Unpaid Losses ,... more
  • Substandard Risk Insurance Glossary
    Substandard Risk (impaired risk) risks deemed undesirable due to medical condition or hazardous occupation requiring the use of a waiver, a special policy form,... more
  • Credit Life Insurance Insurance Glossary
    Credit Life Insurance policy assigning creditor as beneficiary for insurance on a debtor thereby remitting balance of payment to creditor upon death of debtor.... more
  • Comprehensive/Major Medical Insurance Glossary
    Comprehensive/Major Medical policies that provide fully insured indemnity, HMO, PPO, or Fee for Service coverage for hospital, medical, and surgical expenses. C... more
  • Term Insurance Insurance Glossary
    Term Insurance life insurance payable only if death of insured occurs within a specified time, such as 5 or 10 years, or before a specified age. What is Term... more
  • Investment Income Gross Insurance Glossary
    Investment Income Gross shall be recorded as earned and shall include investment income collected during the period, the change in investment income due and acc... more
  • Personal Flood Insurance Glossary
    Personal Flood separate flood insurance policy sold for personal, family or household purposes. What is Personal Flood , What does mean Personal Flood , Insur... more
  • Tenants Insurance Glossary
    Tenants homeowners insurance sold to tenants occupying the described property. What is Tenants , What does mean Tenants , Insurance Guide, Insurance Glossary
  • Group Health Insurance Glossary
    Group Health health insurance issued to employers, associations, trusts, or other groups covering employees or members and/or their dependents, to whom a certif... more
  • Nonadmitted Assets Insurance Glossary
    Nonadmitted Assets assets having economic value other than those which can be used to fulfill policyholder obligations, or those assets which are unavailable du... more
  • Domestic Insurer Insurance Glossary
    Domestic Insurer an insurance company that is domiciled and licensed in the state in which it sells insurance. What is Domestic Insurer , What does mean Domes... more
  • Retention Insurance Glossary
    Retention a mechanism of internal fund allocation for loss exposure used in place of or as a supplement to risk transfer to an insurance company. What is Rete... more
  • Health Insurance Insurance Glossary
    Health Insurance a generic term applying to all types of insurance indemnifying or reimbursing for losses caused by bodily injury or illness including related m... more
  • Reserve Insurance Glossary
    Reserve A portion of the premium retained to pay future claims What is Reserve , What does mean Reserve , Insurance Guide, Insurance Glossary
  • Individual Health insurance Insurance Glossary
    Individual Health health insurance where the policy is issued to an individual covering the individual and/or their dependents in the individual market. This in... more
  • Capital and Surplus Insurance Glossary
    Capital and Surplus a company's assets minus its liabilities. What is Capital and Surplus , What does mean Capital and Surplus , Insurance Guide, Insurance Gl... more
  • Loss Frequency incidence Insurance Glossary
    Loss Frequency incidence of claims on a policy during a premium period. What is Loss Frequency incidence, What does mean Loss Frequency incidence, Insurance G... more