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Insurance Definition: BROKER

By Compuquotes Team on March 27th, 2008

BROKER:

Definition:

  • An intermediary between a customer and an insurance company. Brokers typically search the market for coverage appropriate to their clients. They work on commission and usually sell commercial, not personal, insurance. In life insurance, agents must be licensed as securities brokers/dealers to sell variable annuities, which are similar to stock market-based investments.

Information provided by Insurance Information Institute

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