A Considered Approach in the Management of Insurance Intermediaries from the Insurer's Legal Perspective
Sylvia C Y Kong, Assistant Contracts Manager, DAS Legal Expenses Insurance Company Ltd, UK
Insurers, in terms of insurance product distribution, often consider and balance the many routes to market with the inherent, external costs and risks of the various routes.
This paper analyses one of the most common routes to market namely, through insurance intermediaries (limited to insurance brokers for the purposes of this paper). In particular, this paper analyses the terms of business agreements which govern these relationships, and with particular consideration of the rationale of the current tension and a conditional risk transfer.
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