Investopedia

Continue to Site »

Broker Of Record

Filed Under » , , , , ,
Dictionary Says

Definition of 'Broker Of Record'

In insurance, a broker of record is an agent designated by the policy holder to represent and manage the policyholder's insurance policy. The broker of record may receive copies of all communications to the policy holder and may receive all quotes, policies and notices on behalf of the policy holder. They may also obtain and evaluate insurance quotes and policies and recommend changes to existing policies.
Investopedia Says

Investopedia explains 'Broker Of Record'

A broker of record can serve an individual or may assist a company, for example with handling the health insurance policies of its employees. In return, the broker of record may earn a monthly commission from the health insurance company. A broker of record letter is used to legally establish the relationship between the broker, policyholder and insurance company. Such a letter can be used to designate a broker of record for the first time or to replace an existing broker of record with a new one.

Articles Of Interest

  1.

    Buying Private Health Insurance

    Getting your own policy isn't easy or cheap but in some cases, it's well worth the effort.

  2. Using Logic To Examine Risk

    Know your odds before you put your money on the table.

  3. 15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.

  4. Financial Designations That Employers Require

    We break down the designations that are important to have if you want to work in the financial sector.

  5. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.

  6. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.

  7. Investing In Medical Equipment Companies

    Learn the basics about medical equipment companies and how investing in them can benefit growth and value investors alike.

  8. Tax Variations Of The HEART Act

    The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.

  9. 8 Qualities That Make A Good Insurance Agent

    Insurance agents must possess each of the following qualities in order to be successful.

  10. Beware These Disaster-Related Scams

    Con artists prey on the weak. Those who just survived a natural disaster can be easy targets.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  2. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  3. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  4. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  5. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  6. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Insurance [1] => What's New [2] => Life And Health Insurance Couple [3] => Personal Finance [4] => SEG (Insurance Shoppers) [8] => Life And Health Insurance Family [9] => Health And Home [12] => SEG (Insurance Shoppers:Type-Health) [14] => SEG (Insurance Shoppers:Type-Home) [16] => Home & Auto [18] => Home Ownership [19] => Home Ownership Family [21] => Home Ownership Retirement [33] => SEG (Insurance Shoppers:Type-Life) ) time:9ms