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The concept of insurance brokers】 【Transfer from Interactive Encyclopedia

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									The concept of insurance brokers】 【Transfer from Interactive Encyclopedia
Insurance Brokers
And other markets, the insurance market, including buyers and sellers, as well as the
insurance broker. Insurance intermediaries, also known as insurance intermediary, is
pointing to the insurance and the insured to provide all possible get the price of
insurance, insurance characteristics, and risk to be covered in the nature of knowledge,
linked to the insurance and the insured, the insurance finally reached contract and
provide related services of people, usually include insurance agents, insurance brokers
and Assessors. China's "Insurance Law" Article 23
provides that: An insurance broker is based on the interests of policyholders, the
insured and the insurer for the insurance contracts entered into to provide
intermediary services, and law commission of the unit. Insurance broker is the
representative of the insured in the insurance market, select the insurer or the insured
portfolio, negotiate insurance contracts with terms of the insurance side and agency
procedures and the provision of related services to the insurance intermediary.
Insurance Brokers
An insurance broker is kind of expert broker. In developed insurance markets, to
become an insurance broker, must pass strict scrutiny. Review the contents of a large
number of insurance brokers must have the legal knowledge and practical experience
in insurance, including insurance brokers to assist in the preparation of materials,
insurance brokers and insurance conditions. After this stage, the candidates have to act
as liaison officers, then they can enter the insurance market, understand the market
structure and infrastructure, and future consultations rival - the operation of the
insurer to the insurance market on a preliminary understanding, but also mastered the
activities of insurance brokers should have ethical guidelines and other relevant
regulations.
After the availability of the above conditions, in order to become a qualified insurance
broker, in different countries have different requirements. For example, in the UK, to
register management body - the British Insurance Brokers Registration Council to
apply for registration, registration status of individuals and legal persons to the
insurance broker or reinsurance broker engaged in brokerage activities, the identity.
China provides that persons engaged in the insurance brokerage business must
participate in the insurance broker qualification examination; where individuals with
college education, are invited to participate in the insurance broker qualification
examination; insurance broker qualification, a student from the China Insurance
Regulatory Commission issued "Insurance broker qualification
certificate"; "Qualification Certificate" is only on the
ability of persons with insurance brokers qualification can not be used as a practice
document. "Practicing Certificate of Insurance Brokers" is the
insurance broker to engage in the activities of the only licensed insurance broker.
Have obtained the "Certificate" individuals, must accept the
employment insurance brokers, insurance brokers on their behalf by the China
Insurance Regulatory Commission to apply for and obtain an "insurance
broker personnel practice certificate" only after the insurance brokerage
business.
Insurance Brokers history
Insurance Brokers
Modern sense, insurance is evolved from the marine insurance. About 2000 BC, the
Mediterranean Sea within the existing range of trade activities at sea because the
technology and shipbuilding technology are lagging behind, so the risk of great
sailing. Maritime trade in the long term, gradually formed a budding marine insurance,
that "a person to the public, the public is a person" principle of
general average. Ship or cargo mortgage is the first form of marine insurance.
The beginning of the 15th century, Columbus discovered the New World and open the
way to the East Asian routes, making the World Trade Center began to shift from the
Mediterranean coast to the Atlantic coast of the United Kingdom. As the British
economic and trade development, the modern insurance industry began to develop in
the United Kingdom. With the development of maritime trade, the increased demand
for marine insurance, insurance brokerage system, which led to the emergence and
development. Britain in the 17th and 18th century has become a maritime trading
power. 1720 King of England Royal Exchange and the London insurance company
licensed exclusive marine insurance, Before and after, as the insurer and the insured
person's insurance brokers have come into the media.
Track record of insurance brokers appeared in 1575. At that time, the risk of
significant maritime trade, maritime accidents frequently occur; in the London
insurance market, no one dares to take a voyage insurer all the risks, they can only
bear the insurance amount for each part, which requires use of a rich insurance
specialty knowledge and understanding of the market price of the insurance broker as
the intermediary, will exceed the capacity of a separate part of the insurer and the
insured amount of underwriting risk sharing between insurers in the other, this is the
insurance agent early. Most insurance brokers had no organization, they engage in
leisure activities and have plenty of expertise in business, some landlords, some
bankers. They have extensive knowledge of insurance and, through long practice,
familiar with the risk of sailing in general have a fixed office space, relying on
matchmaking career and life insurance as a source of income. The insurance broker
has seen early with the characteristics of the modern insurance brokers.
Insurance Brokers
Insurance Brokers Category
Insurance Brokers, Insurance Assessor Certificate
According to the different Client, insurance brokers insurance broker can be divided
into narrow (specifically refers to the original insurance market brokers) and
reinsurance brokers.
Narrow the insurance broker is directly between the insured and the intermediary
between the original insurer, direct a client to accept insurance. According to the
different nature of the business, insurance brokers can be divided into a narrow and
non-life insurance broker life insurance brokers.
Life insurance broker is the representative in the personal insurance market,
policyholders choose insurers, insurance agents, who process and to this office from
the insurance broker a commission. Life insurance agent must be familiar with the
subject of the insurance market conditions and insurance details, the special master
professional knowledge, but also understand the law, applying the law, and will
calculate the various life insurance rates, the best protection for policyholders.
Non-life insurance broker is to arrange all kinds of property, interest, insurance
liability, the insurance contract between contracting parties in mediation to promote
the establishment of the insurance contract, and this commission from the insurance
broker who Agency. As the complexity of insurance products, non-life insurance
broker must have relevant expertise in order to carry out with the policyholder
communication, so as the insured risk assessment, risk management program design,
the best security protection for the insured Xuanze services.
Reinsurance broker is to facilitate acceptance of reinsurance companies and
reinsurance companies to establish the relationship between intermediaries. They
separate the company as their customers, the company for the separation of more
favorable conditions for the premise of the company and choose to accept payment of
the commission charged by the latter. Reinsurance brokers not only describes the
reinsurance business, to provide insurance information; and in re-insurance contracts
in force on the reinsurance contract management, continue to reinsurance companies
services such as contract renewal of transfer, modification, termination and other
issues; to the re-insurance underwriter to provide timely bill and estimate.
Reinsurance broker should be familiar with the situation of the insurance market,
compared to the insurance management experts, with the appropriate technical
advisory capacity for reinsurance companies to compete for more favorable terms.
And with many insured, insurers and reinsurers to maintain extensive and regular
contacts, in order to timely access to beneficial information for reinsurance companies
to compete for a further sum of reinsurance transactions. In fact, many huge
reinsurance through reinsurance brokers are prompted by the hand. As the
international reinsurance strong, so make full use of reinsurance brokers is very
important, especially in particularly large insurance reinsurance. Insurance business in
the Western developed countries, with special advantageous position of the
re-insurance broker in favorable conditions, can make their huge insurance
policyholders are many attractive insurance and reinsurance program, which put a lot
of money is not power, finite size Insurance people organize themselves into
reinsurance group, host a huge reinsurance.
Insurance broker organization system
Insurance Brokers
In general, the organization of insurance brokers with three: the individual,
partnership and corporate system.
Most countries, such as the United States, Britain, Japan, Korea and so allow the
individual insurance brokers insurance brokerage business. In order to protect the
interests of policyholders, to maintain order in the insurance market, individual
countries have strict management of the insurance broker. National insurance
supervisory authorities have a requirement that brokers be required to attend
professional liability insurance or to pay business insurance. In the UK, the insurance
broker registration provisions of the Commission as regulator of the private insurance
broker minimum working capital amount and the amount of professional liability
insurance, Lloyd's required by their personal insurance brokers
professional liability insurance rates higher; Japan requires Personal income margin
deposit insurance brokers or insurance brokers to participate in liability insurance.
South Korea provides that if the insurance broker insurance broker designated by the
Ministry of Finance to participate in liability insurance, can reduce its operating
margin to be deposited, but not less than the minimum 100 million won limit.
Britain and other countries allow the establishment of a partnership in partnership
insurance broker organizations, but requires that all partners must be registered
insurance brokers into. Corporate insurance brokers generally take the form of limited
liability company, which is recognized by all countries, the insurance brokerage
organization. States on the solvency of the insurance brokers have made a specific
request, minimum capital requirements, operating margin deposit to participate in
professional liability insurance.
Insurance broker management system
Insurance Brokers
Provisions of the insurance broker overseas business scope includes property
insurance, life insurance and reinsurance.
In the U.S., insurance brokers can be divided into sales of property and liability
insurance marketing life insurance brokers and agents into two categories. Generally
allow regional, national and global insurance broker engage in property and liability
insurance, group life and health insurance brokerage, reinsurance can be arranged.
However, life insurance marketing, insurance intermediary in the United States-based
insurance agents, and in some states (such as New York state), special provisions shall
apply for the insurance broker insurance life insurance and annuities.
In Korea, the insurance brokerage income is divided into life insurance agents and
damage insurance brokers, allowing both concurrently, the prerequisite to obtain life
insurance broker, respectively, and damage insurance brokers practicing certificate.
But in South Korea. Concurrently strictly prohibited insurance companies insurance
broker, insurance agent, insurance, actuarial and claims adjusters who the business. In
contrast, Anglo-American countries, relatively loose regulations that allow private
insurance broker business insurance agency concurrently.
Insurance broker as an intermediary to receive a commission as the main source of
profits, countries have different requirements. In the UK, commission rate and the
broker by the insurance into the consultation, regulatory authority does not require the
commission rate increases. If the insured requested the insurer informed the
commission amount paid, the insurance broker shall promptly disclose to the insured.
In the United States, according to different types of insurance insurance brokers
charge different amount of commission they charge commission is mainly in
accordance with the proportion of premiums paid by the loss ratio to pay commission
or profit sharing commissions. According to the insurance company to pay the
standard commission is usually the business, the nature and type of different factors
were determined.
Now the British have gradually adopted the commission the two sides through
consultations, the system of bargaining in South Korea, the insurance
broker's commission paid by insurance, the insurance broker commissions
and other related content Xu Jiang Jin Xing accounting, Yi Gongtoubaoren access is
prohibited by law Insurance brokers charge commission fees to the insured or other
fees.
Insurance broker management system
Insurance Brokers
Provisions of the insurance broker overseas business scope includes property
insurance, life insurance and reinsurance.
In the U.S., insurance brokers can be divided into sales of property and liability
insurance marketing life insurance brokers and agents into two categories. Generally
allow regional, national and global insurance broker engage in property and liability
insurance, group life and health insurance brokerage, reinsurance can be arranged.
However, life insurance marketing, insurance intermediary in the United States-based
insurance agents, and in some states (such as New York state), special provisions shall
apply for the insurance broker insurance life insurance and annuities.
In Korea, the insurance brokerage income is divided into physical damage insurance
brokers and insurance brokers, allowing both concurrently, the prerequisite to obtain
life insurance broker, respectively, and damage insurance brokers practicing
certificate. But in South Korea. Concurrently strictly prohibited insurance companies
insurance broker, insurance agent, insurance, actuarial and claims adjusters who the
business. In contrast, Anglo-American countries, relatively loose regulations that
allow private insurance broker business insurance agency concurrently.
Insurance broker as an intermediary to receive a commission as the main source of
profits, countries have different requirements. In the UK, commission rate and the
broker by the insurance into the consultation, regulatory authority does not require the
commission rate increases. If the insured requested the insurer informed the
commission amount paid, the insurance broker shall promptly disclose to the insured.
In the United States, according to different types of insurance insurance brokers
charge different amount of commission they charge commission is mainly in
accordance with the proportion of premiums paid by commission or profit sharing
commissions paid loss ratio. According to the insurance company to pay the standard
commission is usually the business, the nature and type of different factors were
determined.
Now both the United Kingdom have gradually adopted by bargain negotiation of
brokerage commission system, in Korea, the insurance broker commission paid by the
insurer, insurance agent commissions and other related content would need to be
accounted for insured inspection, the insurance is prohibited by law brokers charge
commission fees to the insured or other fees.
Insurance broker regulatory system
Insurance Brokers
As early as 1556, the King of Spain Filler II promulgated the insurance broker to
manage the Act, the Act into the system to confirm the insurance broker and the
insurance broker shall not be recognized in the insurance business in the share
accounted for, showing that the insurance birth control agents in the beginning of its
emergence and development to the present, the main mode of regulatory measures are
divided into two kinds of legal regulation and self-management.
In the insurance broker of the most powerful of the oldest United Kingdom,
Parliament in 1977 passed the "Insurance Brokers Registration
Act", provided the eligibility criteria for insurance brokers, registration,
deposit, business scope, basic principles, insurance brokers and the insured
person's rights and obligations on insurance brokers and other regulatory
measures, then the insurance broker registration law established the Council, as
insurance brokers and insurance brokerage firms and registered regulators, in 1987 as
a statutory insurance broker was Shouquan one professional certification. Insurance
Brokers Registration Council subsequently issued a "business
method", the credibility of the insurance broker, advocacy and service
supervision. Registration Board of the insurance broker is only the most severe
penalties for the offenders is removed, the removal of the company or individual shall
not use the name of the insurance brokers in brokerage activities. In the U.S., states,
"Insurance Law" are applicable to the management of insurance
brokers into the legal requirements. In addition to federal and state legislative norms,
the Government has also appointed a number of states responsible for the
management and supervision of the insurance industry, insurance, supervision mission
officials, they have the right insurance broker on violation issued a warning to a fine,
order the suspension or proposed suspension of reorganization business license and
other penalties.
Rapid development of foreign insurance brokers and insurance agents number,
business scope and impact of an unusual degree than formerly. In addition to
managing the regulatory authority, the establishment of insurance brokers with
industry organizations, industry self-regulation is also a distinctive feature. Insurance
brokers with industry organizations, primarily through the establishment of Insurance
Brokers Association in the form, within the insurance brokerage industry
self-management, self-restraint, its efficacy management can promote the healthy
development of the insurance brokerage industry. Some countries such as Britain,
South Korea, Japan to attend the special provisions of the insurance broker insurance
brokers with industry organizations, restrict or otherwise not allowed to engage in
insurance brokerage activities. Britain set up in 1978 elected by the insurance broker
insurance brokers insurance brokers association representatives. The United States in
February 1996, the National Insurance Brokers Association drafted a
"model legislation insurance broker" to guide and promote the
standardization of the insurance broker system toward the direction.
The role of insurance brokers
Insurance Brokers
Insured by an insurance broker providing insurance programs to handle the insurance
formalities, on behalf of policyholder claims and to provide prevention, loss
prevention or risk assessment, risk management consulting services to enable the
insured to operate in full awareness of its risks, and provided the insurance broker a
comprehensive professional insurance proposed to be insured by the existence of
effective control and risk transfer to insurance spending in the most reasonable
maximum risk protection, reducing the operations and solid risk management cost, to
ensure the healthy development of enterprises.
In addition, because the insurance broker's business is ultimately going to
insurance companies for insurance, the insurance brokerage business will cause
insurance companies to increase the amount of the overall increase in business
volume, which reduces the cost of the insurance company's exhibition
industry; in the insurance market, insurance brokers people to share reinsurance of
insurance companies to sell out smoothly, eliminating the concerns of insurance
companies reinsurance difficult to significantly reduce the business risks of insurance
companies; and handle insurance matters on behalf of insurance brokers, a decrease of
the insured person who did not understand the insurance knowledge claims to the
insurer in the unnecessary disputes the claim, the insurance companies to improve
operating efficiency.
Therefore, production of both insurance brokers or insurance companies to
policyholders is beneficial, she produced a perfect insurance market results.
Insurance broker national situation
Insurance Brokers
Internationally, there are a hundred years of modern insurance brokers, insurance
brokers in some countries the insurance is an important form of insurance marketing.
Analysis of insurance brokers by observing the development in these countries, the
development of China's insurance broker could be reference.
1, United Kingdom: a very strict management
In the international insurance market, the UK's most influential insurance
brokerage system, insurance brokers strongest. According to statistics, the United
Kingdom insurance market with more than 800 insurance companies, and insurance
brokers to more than 3200, a total of more than 80 000 staff of insurance brokers. UK
insurance market for more than 60% of property insurance business brought about by
the broker, "Lloyd's" business is to be arranged by
the insurance broker.
British insurance broker originated in marine insurance. Britain's first
insurance brokerage firm founded in 1906 and in 1910 the British Government Trade
Commission to be registered. In 1977, Britain passed the "Insurance
Brokers Act" and a bill to establish a special agency that is the British
Insurance Brokers Association and the British Insurance Brokers Registration Council
(IBRC).
British insurance broker management of very strict, its main features:
(1) the creation of specialized regulatory agencies that the insurance broker registered
Council promulgated the "business method", the credibility of
the insurance broker, advocacy and service supervision. In the UK, the Council only
after registration of individuals or legal entities can be registered in order to
"insurance broker" business identity;
(2) strict financial management. "Insurance Brokers Act"
stipulates that the insurance broker's assets over liabilities to £ 1,000, but
also to set up an independent "insurance agent accounts";
Insurance Brokers Registration Council to submit annual audited accounts and
relevant certificates; practice Insurance brokers must submit a certain margin, the
minimum amount of £ 250,000, up to £ 750,000;
(3) severe penalties. Registration Council, the most severe penalty is the only solution
is removal of the offenders. After removal of the company or individual shall not use
the name of the insurance brokers engaged in brokering activities.
2, Germany: personal involvement
German insurance market, significant effect on the insurance broker. In Germany, the
insurance agent has been called the insurer "extended hand",
and       independent      insurance    brokers     have     the     insured's
"allies," said. Currently, the total number of German insurance
brokers more than 3,000. In the personal insurance business, 8% of the volume of
business brought by the agent, than bank-branch sales (5%) and insurance companies
direct marketing (7%). Industrial enterprises in the insurance sales, insurance agent, a
significant, 50% -60% of the volume of business brought by the agents, far more than
the insurance agents (10% -20%), volume of business.
In Germany, the management of insurance brokers based primarily on
"civil law" to carry out. Germany's "Civil
Code" provides that the insurance broker insurance broker activities in the
process, due to their own fault caused by client losses, should be separate from civil
liability. And insurance brokers must take out professional liability insurance, to
protect the interests of their clients.
As the relevant laws and regulations in Germany do not have eligibility conditions of
the insurance brokers (this difference with the rest of Europe and the United States),
in recent years, more and more individuals and institutions into the insurance
brokerage industry. Most of them financial advisor, insurance consultant or insurance
consultant's identity, engage in activities with the nature of the insurance
brokers. Some large industrial companies, in addition to their professional insurance
brokers for risk management and insurance arrangements, and even set up their own
insurance brokerage firm, responsible for the company's risk identification,
assessment. Insurance brokers have in-depth public life in Germany.
3, United States: General Insurance-based
U.S. insurance market is the world's largest insurance markets. In 1998, the
nation's total business premium income reached 736.47 billion U.S. dollars,
ranking first in the world. Life insurance business premium income for the 349.39
billion U.S. dollars. U.S. insurance market, many insurance companies, reaching more
than 5000. Insurance brokers in the U.S. market to play a certain role, but far less
important to the United Kingdom.
In life insurance, the insurance broker is almost non-intervention. In some states (such
as New York state) are provided, the insurance broker shall not apply for life
insurance and annuity insurance.
In property insurance, the United States to insurance agents and insurance brokers as
the center for insurance marketing. Brokers major projects to attract big business or
big business, brokerage firms are situated in the city. Broker to pay the standard
commission to the insurer the nature and type of business and other factors.
Commercial fire insurance commission rate is generally 19% of premium income,
general business liability insurance rate was 18%, 16% auto insurance, workers
compensation insurance to about 10%. Both sides can also be floating through the
bargain.
Although the insurance broker's role in the U.S. market is not particularly
prominent, but still very strict supervision of their departments. In addition to federal
and state legislative norms, the Government has also appointed a number of regional
Commissioner of Insurance, they have the right insurance broker on the violation to
issue a warning, fines, ordered to suspend business or even revoke its business
license.
4, Japan: distinctive features
Insurance marketing system in Japan has its own distinct characteristics. Rely mainly
on the Japanese insurance marketing company and agency field staff to carry out.
More than 90% of its non-life insurance business by the agency to recruit.
April 1996, Japan introduced a new insurance law, agents of this form Caibei
introduction. Japan to introduce the agent system is used in the registration system
(you can apply for registration), rather than license system. Ministry of Finance
directly to the registered agent, but requires a certain number of agent storage
insurance, the part above the minimum margin from the liability insurance broker
insurance (E & Q).
Japan, experts point out that the insurance industry has long since Japan introduced
agent system, this system works well, but also to some extent, these agency also has
the function of insurance brokers, insurance brokers in Japan to achieve substantial
development, still made great efforts.

								
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