Learn more about working in the insurance industry

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Agents and brokers sell insurance. The difference is that both individuals and legal entities are allowed to be agents. And only legal entities licensed to conduct brokerage business can be insurance brokers.

The job of an insurance agent is to sell as many teacher data policies as possible. A broker does not sign a cooperation agreement with a company. Does not act as its representative. Acts in the interests of clients, informing them about offers on the market, assessing real estate. In difficult situations, finds a compromise between the insurance company and the insured.

If the broker acts in the interests of the insurance company, he is obliged to notify the policyholder about this. This is provided for in paragraph 6 of Article 8 of the Law of the Russian Federation of 27.11.1992 No. 4015-1.

Agents do not charge clients. ICs pay them commissions. Brokers have the right to set the cost of their services. But they are obliged to warn the client in advance. However, ICs are also allowed to charge brokers commissions.