history: Are you familiar with insurance brokers?
knowledge: An insurance broker (also insurance agent) sells, solicits, or negotiates insurance for compensation.
response: I understand that they do a number of things such as negotiate insurance for compensation.
history: Are you familiar with insurance brokers?
I understand that they do a number of things such as negotiate insurance for compensation.
Yes, they sell many different types of insurance.  Did you know that they have to be licensed to do so?
knowledge: The largest insurance brokers in the world, by revenue, are Marsh & McLennan, Aon Corporation, and Arthur J. Gallagher & Co and Willis Group.
response: I did not but I know that some of the biggest insurance brokers, by revenue, are ones like Marsh & McLennan, Willis Group and more.
history: Are you familiar with insurance brokers?
I understand that they do a number of things such as negotiate insurance for compensation.
Yes, they sell many different types of insurance.  Did you know that they have to be licensed to do so?
I did not but I know that some of the biggest insurance brokers, by revenue, are ones like Marsh & McLennan, Willis Group and more.
Oh wow, I've heard of both! Do you know any more about insurance brokers?
knowledge: ''Insurance broker'' became a regulated term under the Insurance Brokers (Registration) Act 1977 which was designed to thwart the bogus practices of firms holding themselves as brokers but in fact acting as representative of one or more favoured insurance companies.
response: Have you heard of the Insurance Brokers Act from 1977? It regulated the "insurance broker" term to fight bogus firm practices.
history: Are you familiar with insurance brokers?
I understand that they do a number of things such as negotiate insurance for compensation.
Yes, they sell many different types of insurance.  Did you know that they have to be licensed to do so?
I did not but I know that some of the biggest insurance brokers, by revenue, are ones like Marsh & McLennan, Willis Group and more.
Oh wow, I've heard of both! Do you know any more about insurance brokers?
Have you heard of the Insurance Brokers Act from 1977? It regulated the "insurance broker" term to fight bogus firm practices.
I did not realize that was a law that was passed just in 1977.  Feels like they could have just sold any line anywhere willynilly before 77
knowledge: The sale of general insurance was regulated by the Financial Services Authority from 14 January 2005 until 31 March 2013 and by the Financial Conduct Authority since 1 April 2013.
response: I can't say on that, but the Financial Conduct Authority regulates general insurance sales since April 1, 2013.