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The main difference between an insurance broker vs carrier is that an insurance carrier creates and services the insurance policy, whereas a broker helps a customer find the best policy among multiple carriers at the best possible rate.
Insurance agents and insurance brokers can both help you buy an insurance policy. But insurance agents represent the insurance provider that employs them and help sell policies from that single provider. Insurance brokers represent the consumers who use them and can help them shop for policies from multiple providers.
An insurance broker is a professional who acts as an intermediary between a consumer and an insurance company, helping the former find a policy that best suits their needs. Insurance brokers represent consumers, not insurance companies; therefore, they cant bind coverage on behalf of the insurer.
Appointed Broker means the Recognized Dealer nominated by the Company from time to time, the name and details of which are notified to the Bondholder in writing; Associate has the meaning ascribed to it in the Listing Rules; Auditors means Crowe Horwath LLP, or such other internationally recognised auditors as is
Appointed agent means an Agent who is an employee or contractor of the Agency, and who has been appointed by Citizens through execution of an Agent Appointment Agreement.
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