Broker of Record

Published: | Updated: September 2, 2017

Definition - What does Broker of Record mean?

A broker of record is an insurance agent a policyholder designates to represent, oversee, and manage their insurance policy. This individual deals with the insurance provider on the client's behalf and may receive all communications, notices, and quotes for the client. In addition, they may suggest adjustments to existing policies.

Insuranceopedia explains Broker of Record

A broker of record is basically the middle man between the client and the insurer. They might serve an individual or a company to manage the client's policies and earn a commission or some other form of compensation from the insurer. Without a broker of record, a client might have to spend significant amounts of time managing their insurance policies and overseeing risks, developments, changes, claims, and so on.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.