Agents And Brokers Flashcards, test questions and answers
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What is Agents And Brokers?
Agents and brokers are important professionals in the insurance industry. Agents and brokers are responsible for selling insurance policies to individuals and businesses, as well as providing advice on the best policies to suit their customers’ needs. They usually work with one or more insurance companies, helping clients select coverage that meets their specific needs. Insurance agents typically work for a single company, representing that company’s products exclusively. They may specialize in life, health, property, casualty or other types of insurance coverage. Agents must be licensed in each state where they operate; this requires passing a licensing exam and completing continuing education requirements each year. Insurance brokers are independent agents who represent several different companies at once to provide clients with a broad range of options from which to choose. Brokers often have knowledge of multiple markets so they can help customers find competitively priced coverage from many sources. In addition to offering advice about policy selection and coverage levels, brokers may also assist clients with claims filing services when needed. Ultimately, agents and brokers help people understand the complexities of buying insurance by providing personalized service and guidance throughout the process. It is important for customers to understand what type of agent they are working with so they can be sure they are getting the best advice possible when making decisions about their insurance policy selections.