Intermediary

The difference between a broker and an intermediary is subtle. A broker will go to a number of insurance companies and determine the most suitable insurers product for their client hand this over to them an get paid comission from the insurer. An intermediary again goes to a number of insurers, but unlike the broker is actually responsible for the product. Usually online insurers are intermediaries and usually high street insurers (certainly historically) have been brokers.

 

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