A broker of record, in insurance, is an agent designated by the policyholder to represent and manage a policyholder's insurance policy.
AIA Group Ltd. was subject to a record fine of HK$23 million ($2.9 million) by the Insurance Authority for anti-money laundering oversight, as the city’s regulators steps up scrutiny of the industry.
Key Takeaways ; Broker of Record (BOR) can effectively address insurance concerns. BOR letter allows changing the broker managing policies. ; Applicable for both startups and individuals seeking insurance coverage. Establishing a solid relationship with a BOR is important.
Accounts Receivable Insurance · A type of commercial property insurance that covers financial losses that arise from property damage to a business’s financial records caused by a covered peril, such as fire, theft, or flood, or from a client’s default in paying for goods or services due to a covered peril, such as bankruptcy, contractual issues, or insolvency. See full definition. Accredited Adviser in Insurance (AAI) Designation · A professional designation offered by The Institutes for...
BOR Letter vs. Re-Quoting If you're dealing with issues like poor communication, late renewals, or a lack of proactive support from your insurance broker, you…
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By David A. Farenthold, Rachael Bade and John Wagner | Washington Post · New York state regulators have subpoenaed President Donald Trump’s insurance broker, following testimony from former Trump attorney Michael Cohen that Trump exaggerated his wealth to insurance companies. That subpoena – acknowledged Tuesday by broker Aon PLC – signaled another line of inquiry into Trump’s private business, this time by New York’s Department of Financial Services. “As is our policy, we intend to cooperate with all regulatory bodies,” Aon spok ...
Three Baltimore-area insurance brokers have filed complaints with state regulators accusing Erie Insurance of discriminating by engaging in insurance “redlining” of predominantly Black neighborhood...
You will receive a confirmation letter from the Consumer Services Division acknowledging the receipt of your complaint with your problem report number listed along with the name of the Consultant handling your file. Please always refer to this Problem Report number in any correspondence with your Consultant regarding your complaint. Your complaint along with a letter from the IDOI will be mailed to the insurance company or agency the complaint i ...
On this page ; Step 1: Address the problem with your company, agent, or broker ; Step 2: Contact a third-party ; Contact the insurance regulator