Advanced skills: While most employers did not require the following skills, multiple job listings included them as preferred. (citing Pacific Rim Mechanical Contractors, Inc. v. Aon Risk Ins. American Insurance Association – Representing more than 325 insurance companies, the AIA helps shape the future of the industry by serving as a key resource for the the media, policy makers and the public. Here’s what he had to say: What do you find most rewarding about being an Insurance Agent? May require an associate's degree with at least 2 years of experience in the field or in a related area. Successful Insurance Agents are great communicators who have an entrepreneurial spirit. 2014). Accessed July 19, 2020. One California Practice Guide has reported California law in this context as follows: It is not clear in what respect the “fiduciary duty” owed by an independent insurance agent [broker] differs from the duty of due (reasonable) care. 5.It is unclear under California law whether a fiduciary relationship exists between an insurance broker and the insured. Co. (1953) 115 Cal.App.2d 238, 244, 251 P.2d 1027). (citing Cal. Being an effective listener is an extremely important skill that is used in every customer interaction. To accomplish their primary goal of selling insurance policies, Insurance Agents perform many tasks. Complete guidance on legal responsibilities of agents and brokers with full coverage of rights and responsibilities as debtors and creditors, and the buying and selling of insurance agencies. Use this professional created Insurance Agent job description example to gain some inspiration on how to best craft your job description. (citing Pacific Rim Mechanical Contractors, Inc. v. Aon Risk Ins. However, an insurance broker does act in a fiduciary capacity in those situations where the broker receives and holds premiums or premium refunds for the insured. (In the context of this article, an insured includes one who thought he or she was insured, whether they were or not.) The duties and responsibilities of a commercial insurance agent are: Contacting commercial enterprises and evaluating their insurance needs Personally visiting the commercial enterprising or making phone calls to management and explaining the various commercial insurance policies HUB Int’l., Id. However, an insurance broker can act in a dual capacity when the broker serves as the insured’s broker in procuring insurance but also acts as the insurance company’s agent by collecting the premium and delivering the policy to the insured. Should a customer need to file a claim, the agent is usually their first point of contact. 2.Insurance brokers owe a limited duty to their clients. Take details of the client requirement, conduct study on it, understand it a… As salespeople, Insurance Agents dedicate a large portion of their time to cultivating new business. Code § 1733.). Generally brokers do not breach this duty to clients to procure requested insurance policies unless (a) the broker misrepresents the nature, extent or scope of the coverage being offered or provided; (b) there is a request or inquiry by the insured for a particular type or extent of coverage; or (c) the insurance broker assumes an additional duty by either express agreement or by holding himself/itself out as having expertise in a given field of insurance being sought by the insured. Insurance agents sell and negotiate life, health, property, or other types of insurance to match the needs of their clients. 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