Insurance Brokers?

Question

Can an insurance broker work for a insurance company...For specific, can person be a insurance broker for Nationwide™?

If so, then please give me some hard facts that can prove you're statement. This decides whether or not I graduate from high school...So please help me.

Answer 1

Nothing should keep you from graduating from high school!  That said, there are independent agents that can write insurance with various insurance companies.  I don't know anything about Nationwide.  I prefer to write insurance with more than one company.  Nobody wants to hire a high school drop out.  In this day and age, there is no excuse to not have a diploma from high school, at the very least.

Answer 2

If you go to this link on their website, it seems like any licensed insurance agent can apply to be appointed with Nationwide. http://www.nationwide.com/careers/agency...

Answer 3

An insurance broker represents more than one insurance company. Like a mortgage or stock broker they are an intermediary between the general public and the company offering the product. They have a responsibility to shop the market to find the best deal possible for their client, however by the ethical code which they operate, and according the agreement they sign with the insurers they represent, they have to disclose all relevant details about the risk to the insurer. Therefore anything you tell a broker cannot be considered "off the record" or "just between you and me". A broker is independent and not an employee of the insurer.

An agent is an employee of the insurer and can only represent the one insurer. An agent cannot shop the market for the best rate for the client, they can only check the products sold (or not sold) by the one insurer. An agent represents the insurer first and the client second. While they may not lie or intentionally mislead the client, they are under no real obligation to thoroughly explain the policy to the client. An agent would be knowledgable in their products, however they may not be knowledgable in insurance in general.

Answer 4

You have an uphill battle with this one.   Assuming an employee of Nationwide only sells Nationwide insurance. This is taken from wikipedia.  

Though not an absolute separation; an agent is an insurance company's representative by way of agent-principal legal custom. The agent's primary alliance is with the insurance carrier, not the insurance buyer. A broker generally has no contractual agreements with insurance carriers and relies on common or direct methods of perfecting business transactions with insurance carriers. This can have a significant beneficial impact on insurance negotiations obtained through a broker.