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Insurance intermediaries
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a breach of a duty of care which results in damage
negligence
................ is the complete and full revealing of information relevant to a particular issue.
Disclosure
Thee part of an insurance claim to be paid by the insured.
deductible
The insurance ............. is the sum of money an individual or business must pay for aninsurance policy.
premium
.................simply means the customers reach out to the insurer directly to buy a product.
Direct sale
A professional who offer independent advice on financial matters to their clients and recommend suitable financial products from the whole of the market.
independent financial advisor
In insurance, a certain percentage of premium produced that is retained as compensation by insurance agents and brokers.
commission
A single payment made at a particular time, as opposed to a number of smaller payments or instalments.
lump sum
An amount paid for fixed assets, for expenses related to the acquisition of a new customer, or for the takeover of a competitor.
acquisition cost
Someone who is paid by a financial organization to sell and give advice only on its investment products, not on those of its competitors.
tied agent
An arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank's client base.
bancassurance
An ................... is a professional who represents consumers in their search for the best policy for their needs.
insurance broker