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Insurance broker. An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers ...
In 1976, the company bought the insurance brokerage units of the Esmark conglomerate. Ryan focused on insurance brokering and added more upscale insurance products. He also trimmed staff and took other cost-cutting measures, and in 1987 he changed Combined's name to Aon. In 1992, he bought Dutch insurance broker Hudig-Langeveldt.
Unlike insurance agents who service one or more insurance companies, brokers represent clients, helping them find the best insurance policies to meet their unique needs. While using a broker can ...
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
The Bottom Line. broker in insurance. Insurance brokers can help take the pain out of shopping for a new policy. Instead of comparing several options from dozens of insurers on your own, a broker ...
Number of employees. 52,000 (2023) Website. AJG.com. Footnotes / references. [1] Arthur J. Gallagher & Co. ( AJG) is an American global insurance brokerage and risk management services firm headquartered in Rolling Meadows, Illinois (a suburb of Chicago ). The firm was established in 1927 and is one of the largest insurance brokers in the world.
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