What is the role of an insurance broker?

An insurance broker is a person or company who works as an intermediary between insurance companies and individuals or businesses who are purchasing insurance. An insurance broker’s job is to negotiate with insurance companies to determine the best coverage and rates available to their clients. They act as an advocate for the insured and are responsible for providing advice and support to their clients in selecting the right policies and coverage. In Tennessee, insurance brokers are regulated as agents of the insurance companies they represent and must be registered with the Tennessee Department of Commerce and Insurance. Insurance brokers must adhere to certain rules and regulations as set out by the state in order to operate legally, which includes respecting the privacy of their clients and conducting business in an ethical manner. Insurance brokers also help protect consumers by acting as a mediator between insurance companies and customers. They are responsible for providing information to their clients regarding the coverage, deductibles, and the amount of risk they are undertaking. They should also give guidance to their clients on how to lower their premiums and make sure they are getting the coverage they need at the best price possible. In Tennessee, insurance brokers have a responsibility to provide clients with affordable insurance options, to be informed on the types of policies available, and to act as a partner in ensuring that their clients are protected from losses related to their chosen policies.

What is the role of an insurance broker?

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