Insurance Intermediaries in Overseas Markets

Insurance Intermediaries in Overseas Markets

 The UK In insurance moderators have part-time agents like solicitors, accountants, bank managers, building societies and estate agents, which represent their own customers in the insurance company. Those brokers who are full-time experts, who are considered as professionals with expert knowledge of insurance. In addition to the arrangement of the insurance, these brokers risk analysis services, such as risk analysis, redressing of damage, sufficient insurance programming and Lyonds of London (individual underwriters who accept the marine insurance business on their behalf). The US Insurance moderators are composed of three categories, such as independent agents, which represent many companies, special agents, which work for a single company, and the general agent, which these general agents accept the risks on behalf of insurance companies and to underwrite and policy In Japan, agents are individuals, partnership or corporate organizations that buy most of the insurance business except the coast. Sea insurance insurance companies are sold directly by staff (direct delivery). In addition, there are general agents, such as canvasers, such as household payment insurance plans such as household payment insurance plans such as household and stored policy, residence / apartment fire insurance policy.

Motor Insurance: The Loss making portfolio in a regulated 

Generally there are more premiums than the free market with the countries and controlled market with tariffs. In India, however the situation is different. Motor premium was the lowest in the world. The average motor premium is about 2 to 3 percent of the vehicle value compared to 8% in Western countries. The reason for the information in the Indian market is the reason for supporting reasonable prices. The old insurers, whom more than 80 percent of 80% share, were unable to generate a sufficient database to enable the rating of different groups of scientific calculations and vehicles for risk evaluation of the risk. Therefore, underwriting in the field of transportation was believed to have lost propositions, which claim more than 120% of the total premium income. The net result was that the powered pricing is defective in the absence of data. Following the experience of insurance companies, the commercial vehicle operators, users, lobists, government or courts can not be assured to increase the rate to increase the rate to increase the rate of operators, users, lobbyists, government or courts.

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