What is the Difference between Insurance Broker and Agent? Insurance Broker vs Agent: Background Insurance Brokers and Insurance agents both sell insurance. The key difference between insurance broker and agent is that an insurance agent (also called captive agent) typically works for one insurance company and thus can sell insurance policies of this company only. That limits consumer’s options to compare different products. Insurance broker on the contrary does not work for one insurance company but rather have a distributor relationship with multiple insurance companies. That allows insurance broker to compare several polices available on the market. When engaging an insurance...
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Registered Insurance Brokers Act Consolidation Period: From June 8, 2019 to the e-Laws currency date . “applicant” means an individual, partnership or corporation that applies for registration under this Act; (“auteur d’une demande”) “Authority” means the Financial Services Regulatory Authority of Ontario continued under subsection 2 (1) of the Financial Services Regulatory Authority of Ontario Act, 2016; (“Autorité”) “board of inquiry” means a board of inquiry appointed by the Council; (“commission d’enquête”) “certificate” means a certificate issued under this Act; (“certificat”) “Chief Executive Officer” means the Chief Executive Officer appointed under subsection 10 (2) of the...
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RENOMIA, the insurance brokerage leader in Central and Eastern Europe, buys a majority stake in IMG, one of the leading Czech insurance brokers providing services to corporate and individuals. The deal generates synergy and opens pathways to further growth for both companies. RENOMIA strengthens its position also in the market of employee programmes and personal insurance consulting. IMG will gain access to know-how and modern tools for consultants, risk management and corporate insurance solutions. “IMG has a great market reputation and is known for best-in-class service, which shows in its market position and stability. RENOMIA is very strong and well-known in corporate business in...
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Odebrecht Insurance Broker Odebrecht Insurance Broker aims to protect its shareholders’ tangible and intangible assets. Created in 1978 to promote business security, it seeks innovative solutions for the transfer of risks in the domestic and international insurance and reinsurance markets. Its role is to support the Group in identifying, assessing, and mitigating these risks. The company acts in harmony with the financial affairs and guarantee policies of the Group. In the last 24 years, more than $26 billion in guarantees have been issued without any losses to the guarantors. The services offered by Odebrecht Insurance Broker include: Provision of guarantee lines and insurance coverage;...
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The Regulation of Insurance Brokers in UAE In the United Arab Emirates the insurance brokerage profession is regulated by Insurance Authority Board of Directors resolution No. 15 of 2013 (as amended by resolution No. 20 of 2014) (the “Regulations”) and resolution No. 58 of 2015 in respect of the execution of resolution No. 15 of 2013 (the “Execution Rules”). A company may not practice insurance brokerage in the UAE without obtaining a license from the Insurance Authority. A license is valid for one year and renewable on a yearly basis. It expires at the end of December each year. Companies wishing to obtain a license from the Insurance Authority must meet certain requirements set by the...
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UNITRUST INSURANCE BROKERS is a duly licensed broker ready to operate in the U.A.E. The company is set up with a clear mission to provide quality service to valued customers, advising on risk handling measures including cost effective solutions for risk transfer by way of well designed insurance products. The company has got good reputation with the major and leading insurance companies in UAE, which gives adequate strength to support our clients. We understand the needs of our clients and their commercial objectives and create a platform to present innovative products with global standards of service. We maintain high integrity and transparency that embraces the highest standard of honesty...
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Job Description An insurance broker is the ‘middleman’ in insurance-based transactions between insurance companies and individual or commercial customers. Unlike captive agents, who are associated with specific providers or with specific insurance products, insurance brokers sell and manage insurance products across companies and risk types. However, a distinction may be drawn between personal versus commercial insurance products and clients. Insurance brokers can be salaried or self-employed. In the case of the former, working for an established regional, national or multinational company is more advantageous in terms of income, benefits and career growth. Setting-up your own...
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Career Opportunities and Recruitment at NEXUS Sales Director – Abu Dhabi Provides the required link between the CEO and the Senior Management team / Branch employees. Responsible for a team of 60+ Sales Financial Sales Advisors Works with Sales Managers and Advisors to enhance production and focus on KPI’s Implements Company strategy to achieve approved objectives, using a planned approach Provides leadership and direction to Senior Management and Branch employees Deliver operational budgets and implement procedure’s Prepare reports and attend Branch meetings / CEO meetings Overseas Branch initiatives and projects. Develop and deliver robust sales plan for market sector & Branch...
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