I'm researching insurance producers. What's the difference between an agent and a broker?

Answers:2   |   LastUpdateAt:2012-08-31 06:08:03  

Question
Kuala Lumpur
Asked at 2012-05-30 15:57:34
I'm investigating insurance producers . What is the difference between an agent and a broker ?
Answer1MatAnswered at 2012-06-08 22:20:15
Hey, your kid safe to use again! :)

As a poster above, an agent is usually an employee of a private company, while a runner tends to be independent and tend to sell products from several companies.

The statement, however, that an agent is somehow in a bad position to help a client, or not be in the best interests of a client, it is rude and incorrect.

The main difference between the two tend to be the diversity of products they have available for sale. In some cases, the agent may have access to many products, many of whom will not even be the company that employs him. The level of interest in doing the right thing for the client has nothing to do with whether a person is an agent or broker.

For a while I was a great insurance agent. In addition to insurance products offered by the company, who had access to the products of 80 third-party products available in my state.

At no time was anyone at the agency where I worked instructions to favor the products of one company over any other company products. The order of importance was always to put customer needs first. Ethics to suggest that someone in the way he or she does business are determined by the type of contract under which the person is employed is an insult.

I work in an independent office at the time, so I'm not in a captive environment, and I never recommend anyone to work under an agency agreement "is not looking out for the best interest of the client" just by the way he or she contracts.

Ethical people are all over the place, like unethical people can be found all over the place. Throw a blanket generalization like that is unfair to the ethical, agents hired by people out there who work hard for their clients. As a corollary, just because someone is under a contract broker is not in any way guarantee or she is looking for the best interests of the client.

For those seeking insurance I suggest you interview several agents, until you find one you feel is working on their behalf and with whom you feel comfortable. Worry less about how that person is hired that the quality of service, quality products and level of comfort you feel with the rigor and ease the process of moving to be insured.
Answer2wheezerAnswered at 2012-08-31 06:08:03
The terms are interchangeable ! And agent can represent a company . A broker works for a number of companies MedlinePlus MedlinePlus I personally fee that a broker is only as good as the companies they represent . I talked to a lady in NV and she said what she said , but I know of products that are designed different and gave him some things to think about and
--- MedlinePlus What questions to ask to make sure she had the full questions !
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