What does an Insurance Broker do?
An Insurance Broker is an insurance intermediary with professional skills and knowledge for the handling of insurance business.
They act as the agent of their client and they are normally remunerated mainly by a commission paid by an Insurer, or sometimes by a fee agreed with their client.
Some insurance brokers specialise in certain 'niche' classes of insurance such as professional indemnity.
Since January 2005 all insurance brokers and intermediaries must be registered with and regulated by the Financial Conduct Authority (FCA).
Please read our free guidance note on this subject Why You Need An Insurance Broker.
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