Broker versus Agent

[Randy Foulds]

This question comes up from time to time. In California, I am a licensed Agent. Yet I work on behalf of the insurance buyer, my client. I am not a captive agent, yet I cant be called a broker. California does not really recognize the term broker as any different than and agent in their licensing.

What do you consider yourself and does your state recognize the difference?

 

[David Taylor Jr]

This question comes up from time to time. In California, I am a licensed Agent. Yet I work on behalf of the insurance buyer, my client. I am not a captive agent, yet I cant be called a broker. California does not really recognize the term broker as any different than and agent in their licensing.

What do you consider yourself and does your state recognize the difference?

I honestly don't use either term. I call myself a health insurance advisor.

 

[Todd King]

This question comes up from time to time. In California, I am a licensed Agent. Yet I work on behalf of the insurance buyer, my client. I am not a captive agent, yet I cant be called a broker. California does not really recognize the term broker as any different than and agent in their licensing.

What do you consider yourself and does your state recognize the difference?

There really is no such thing as a broker when it comes to the life and health side of insurance. It's a term that is used much like "Final Expense".

I'm not sure, but there may be a "broker" term for the P&C side.

Moreover though, brokers are those that deal with securities.

 

[axeman462]

I'm not sure about tthe compliance side of it (in Florida), but I know my customers like to hear the word "Broker", because it implies that I represent several different insurance companies (as I do).

 

[David Taylor Jr]

I'm not sure, but there may be a "broker" term for the P&C side

There is in Kentucky.

 

[Markthebroker]

When people see that I can fly, and how awesome my hair is, the last thing they are worried about it whether I call myself an agent or a broker.

 

[Tahoe Ray]

This question comes up from time to time. In California, I am a licensed Agent. Yet I work on behalf of the insurance buyer, my client. I am not a captive agent, yet I cant be called a broker. California does not really recognize the term broker as any different than and agent in their licensing.

What do you consider yourself and does your state recognize the difference?

NY has both broker and agent licenses. You can't appoint with a carrier if you only have a broker license.

Other states have "consultant" type licenses as well.

If you stopped people on the street and asked them if they know the difference, do you think they'd know?

 

[David Taylor Jr]

If you stopped people on the street and asked them if they know the difference, do you think they'd know?

The average person? Absolutely not. To them we are all just Insurance Agents.

 

[axeman462]

NY has both broker and agent licenses. You can't appoint with a carrier if you only have a broker license.

Other states have "consultant" type licenses as well.

If you stopped people on the street and asked them if they know the difference, do you think they'd know?

not a chance. Customer only cares about what companies you represent, the cost of your services, and how much the product you sell costs. Titles are meaningless

 

[Tahoe Ray]

The average person? Absolutely not. To them we are all just Insurance Agents.

not a chance. Customer only cares about what companies you represent, the cost of your services, and how much the product you sell costs. Titles are meaningless

100% agree.