Insurance intermediary duties govern broker services, co-broking, policyholder servicing, loss assessment, and health claims administration. Insurance brokers must provide client-focused broking services, maintain records, and may charge for risk-management services only for commercial risks ... Summary
Insurance intermediary duties govern broker services, co-broking, policyholder servicing, loss assessment, and health claims administration.
Insurance brokers must provide client-focused broking services, maintain records, and may charge for risk-management services only for commercial risks under written client authority without receiving duplicate remuneration. Co-broking requires written client consent, defined responsibilities, agreed remuneration sharing and insurer disclosure; direct co-broking is prohibited for individual and retail insurance. Corporate agents must maintain policyholder-focused distribution arrangements and service policies. Surveyors must independently assess and report losses. Third party administrators may administer health claims and related services but cannot solicit insurance business, while hospital discounts must reach policyholders or claimants.
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