What Is A Broker?

A Broker is an individual, partnership or corporation who, for compensation, (not being a licensed agent for the company in which a policy of insurance is placed) acts or aids in any manner in placing risks or effecting insurance for a party other than himself or itself.

Other Alabama Insurance FAQs

Q: What Is The Alabama Definition Of An Insurance Agent?
A: An agent is a natural person, partnership or corporation appointed by an insurer to solicit and negotiate insurance contracts on its behalf.
Q: What Are The Necessary Requirements To Become An Agent?
A: The following qualifications must be met in order to become an insurance agent: Must be 19 or older to apply for the life and disability lines of insurance. Must be 19 … More
Q: Where Can I Get The Application Form?
A: The form required is AL Form 1020. This form and all other forms can be found at the following address: http://www.aldoi.org/iView/page.cfm?view=52 More
Q: What Is A Service Representative?
A: A service representative works for, with or through agents in soliciting, negotiating and effectuating insurance for the insurer. A service representative is a natural … More
Q: What Are The Necessary Qualifications To Become A Service Representative?
A: The following qualifications must be met in order to become a service representative: Must be at least 19. Must be a citizen of the United States of America, Mexico or … More
Q: How Does A Service Representative Become Licensed?
A: Complete an application (Form AL 1020, Rev. 8/99) http://www.aldoi.org/iView/page.cfm?view=52 and pay a $40.00 fee. No written examination is required, but service … More
Q: What Is The Annual Renewal Process For A Service Representative?
A: Renewal forms are mailed to service representatives to complete and update any changes. Annual license renewal applications are due in the licensee`s birth month.
Q: What Are The Necessary Qualifications To Become A Broker?
A: The following qualifications must be met in order to become a Broker: Must be at least 19. Must be a citizen of the United States of America, Mexico or Canada. Must be … More
Q: What Application Form Must I Fill Out?
A: You must fill out the following forms: AL Form 70 Rev. 1/89 AL Form 20B Rev. 10/96 AL Form 40B Rev. 10/96 These forms can be located at the following Web address: … More
Q: What Is An Adjuster?
A: An Adjuster is a person who, for compensation as an independent contractor, or as the employee of an independent contractor or for fee or commission, investigates and … More