Wholesale & Retail Brokers Flashcards

1
Q

Who is a Wholesale Broker acting on behalf of?

A

a retail or producing broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Who does a Wholesale Broker have contact with?

A

has direct contact with the insurer. They can also have contact with the client if they are the only broker in the chain.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

A broker arranging contracts of insurance directly on behalf of the insured or policyholder is a?

A

retail broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the role of a Retail broker when accessing a different market to the one in which they operate (such as Lloyd’s or in a different country)?

A

the producing broker or sub-broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly