Business Insurance Agent Definition at Car Insurance

Business Insurance Agent Definition. Business insurance refers broadly to a class of insurance coverage intended for purchase by businesses rather than individuals. For example, a travel agent may offer you a travel insurance policy or a vehicle dealer a motor insurance policy.

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Insurance broker or insurance agent a person or firm which acts as an intermediary in bringing together clients seeking insurance cover and insurance companies offering suitable policies. The other type of wholesaler is a surplus lines. As a client relations management tool, it helps insurers keep track of all of their policyholders, their subsequent coverage obligations, and make relevant business decisions.

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The definition of principal vs. Business insurance can help you manage your company’s risks. They may be involved solely in offering insurance policies, or they may provide a variety of services including risk management, consulting or advisory services. In some cases the agent may simply introduce the two parties to each other and receive a commission from the insurance company;