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Text Box: FREQUENTLY ASKED QUESTIONS What is a broker? Brokers represent the insured (Client), not insurance companies. Brokers are independent insurance contractors who examine the insurance needs of the client. Brokers operate their own offices and work for themselves. Brokers are paid a broker fee in addition to insurance commission (10-15%). What is an Agent? Agents are appointed (Sponsored) by insurance companies, they represent the insurance company, not the insured. What is a Solicitor? A solicitor is a natural person employed to aide an agent/broker in transacting insurance other than life. Can I integrate insurance into my existing Real Estate, Tax, and Travel Business? Yes, there is no conflict of interest. You may operate any service oriented business and complement it with insurance. After all banks do it all the time. Do I need to be an agent first, before I can apply for a broker’s license? No, you may apply for a broker’s license when you submit the insurance license application to the Department of Insurance along with your broker bond. Cost for the insurance bond is $175 for two years. How are insurance brokers compensated? Brokers get paid commissions just like agents and may be entitled to a broker fee for extra services rendered on behalf of the client. Text Box: Auto Agents Insurance School L.L.C. Text Box: AAISCA.COM (323) 268-4116 AAISCA