Exam term
Insurance broker
A producer who represents the insured, not the insurer. A broker shops the market for the client, holds a broker's license and is never appointed by insurers.
Lessons that use this term
- New York producer licensing: process, definitions, and license types (Ins. Law 2101-2109, 2136) New York
- New York Superintendent's powers and insurer regulation: certificate of authority, solvency, claim practices, and agent appointments New York
- New York licensee regulation: controlled business, commissions, fiduciary duty, records, and compensation transparency (Reg 194) New York
- The law of agency: the insurer as principal and express, implied, and apparent authority New York