DEFINITION of 'Brokerage General Agent'

An independent firm or contractor working for an insurance company whose main function is to sell one or more insurance products to select insurance brokers. Brokers then sell the policies to their clients. Brokerage general agents can specialize in one segment of the insurance industry or sell policies across a wide range of insurance companies.

In addition to selling policies, many brokerage general agents provide a wide variety of supportive services for individual brokers, including taking online applications, tracking cases, providing immediate policy quotes and answering underwriting-requirement questions.

BREAKING DOWN 'Brokerage General Agent'

There are numerous general industry associations and interest groups serving brokerage general agents, including the National Association of Insurance and Financial Advisors (NAIFA), National Brokerage Agencies and the Independent Insurance Agents and Brokers of America. These associations lobby on behalf of members' interests, provide professional training opportunities and promote industry best practices.

Brokerage general agents may also belong to niche trade groups targeting their specific industry focus, such as the Society of Underwriting Brokers (SUB) for life insurance or the National Association of Health Underwriters (NAHU) for health insurance. Many national associations also have regional, state or local chapters.

RELATED TERMS
  1. Independent Agent

    An insurance agent that sells insurance policies provided by ...
  2. Agency Plant

    The amount of presence that an insurance company has in a market.
  3. American Agency System

    A method of selling insurance policies in which independent insurance ...
  4. Independent Insurance Agents & ...

    Independent agents who shop around at different insurance companies ...
  5. Brokerage Department

    A department within an insurance company whose agents specialized ...
  6. Direct Writer

    A captive agent that only issues insurance policies from a specific ...
Related Articles
  1. Insurance

    Becoming An Insurance Agent

    Few careers match the opportunity for as quick and large a paycheck as does being a life insurance agent.
  2. Insurance

    How to Become a Life Insurance Agent

    The pros and cons of becoming a life insurance agent, a field that can be hard to crack—but that can pay off big when you do.
  3. Financial Advisor

    How to Find the Best Life Insurance Agent

    Choosing a life insurance agent is the first and most important step in obtaining coverage. Buyers should pay attention to five key factors.
  4. Insurance

    Career Advice: Stockbroker Vs. Insurance Agent

    Compare and contrast careers as a stockbroker and insurance agent. Understand the skills and attributes required for success in each career.
  5. Insurance

    Want To Sell Life Insurance? Read This First

    Looking for a career that offers big financial upside and the lure of self-employment? Insurance sales could well be for you.
  6. Insurance

    Bundle Your Insurance For Big Savings

    Bundling your insurance can save you money and time. Read on to see how get the most out of multiline insurance discounts.
  7. Insurance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  8. Insurance

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  9. Investing

    Would You Make A Good Real Estate Broker?

    How to tell if you'd be good in this field. It is a common second career for many people, but isn't a good match for everyone.
  10. Insurance

    Brokers: Do You Want To Sell Stocks Or Insurance?

    Know the difference between working as a broker or an insurance rep.
RELATED FAQS
  1. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  2. Can your insurance company cancel your policy without notice?

    Learn about your rights as an insured when it comes to your insurance policy being canceled, including how to access your ... Read Answer >>
  3. What is the usual profit margin for a company in the insurance sector?

    Learn what the average profit margin is within the insurance industry, and what factors can affect the profitability of an ... Read Answer >>
  4. What are examples of the largest companies in the insurance sector?

    Read about some of the largest and most influential companies in the insurance sector, a list that includes Berkshire Hathaway ... Read Answer >>
  5. What are some examples of when insurance bundling is a bad idea?

    Learn about situations where insurance bundling may not be a favorable option. Bundling insurance is often a good idea, but ... Read Answer >>
Hot Definitions
  1. Efficient Frontier

    A set of optimal portfolios that offers the highest expected return for a defined level of risk or the lowest risk for a ...
  2. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  3. Initial Public Offering - IPO

    The first sale of stock by a private company to the public. IPOs are often issued by smaller, younger companies seeking the ...
  4. Border Adjustment Tax

    A tax levied on goods based on where they are sold – exported goods are exempt from tax; those imported and sold in the ...
  5. Profit and Loss Statement (P&L)

    A financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually ...
  6. Blind Trust

    A trust in which the trustees have full discretion over the assets, and the trust beneficiaries have no knowledge of the ...
Trading Center