CANADIAN INSURANCE TERM
Insurance Broker
An insurance intermediary who can help a consumer or business identify insurance options and arrange coverage with insurers they represent or access, subject to licensing and market availability.
Plain-language definition. A real policy, endorsement and provincial law can use more specific wording than a glossary summary.
TermInsurance Broker
ContextCanadian insurance
Source typeIndustry glossary
Policy wordingControls claim
What does Insurance Broker mean?
An insurance intermediary who can help a consumer or business identify insurance options and arrange coverage with insurers they represent or access, subject to licensing and market availability.
A broker is different from the insurance company that ultimately underwrites the policy. The exact relationship and available insurers can vary.
Insurance Broker in practice
A small business may work with a licensed broker to describe its operations and obtain available coverage options from insurers in the broker's market.