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Understanding What Brokers Do & Why Trust Is Important to Us

When going forward with a broker, trust is a huge part of the process.  It is important for clients to learn what a broker does.  In the same way that a grocery store acts as a middleman between shoppers and the companies that produce food, a broker acts as a middleman between the securities that trade on the market and the investors who buy them. To understand more about what Cosmo Insurance Agency is and what our service entails, we have provided some information below.

A broker is a producer.  A producer is a person or agency assigned by an insurance company to represent it and to sell policies on behalf. A producer works with one or more of the following three types of authority:

Express:  Authority that is written into the producer’s contract.  The contract says what the producer can and cannot do.

Implied:  Authority the public assumes the producer has.  An example on our end is a client asking if we can provide a better quote.

Apparent: Authority created when the producer exceeds the authority expressed in the agency contract.  This occurs when the insurer takes no action to counter the public impression that such authority exists. An example would be the producer offering something to a client that was not authorized by the insurer.

As an independent agency, Cosmo Insurance Agency can help you select the perfect individual or family coverage from a broad range of insurers catering to the individual healthcare coverage market. Cosmo has particular expertise in the ACA individual marketplace exchanges. Our knowledge, personal attention, and honesty, will help you make an informed choice.