Definition : Insurance broker

A person whose role is to act as an intermediary putting his client (the insured) in contact with an insurer. Working in a (brokerage) firm, he offers various damage insurance products from several insurers. He must hold a certificate of damage insurance representative issued by the “Autorité des marchés financiers” (Financial Market Authority) and be a member in good standing of the “Chambre de l’assurance de dommages” (Damage Insurance Chamber).

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The insurance premiums are the amount paid by the insured monthly or annually to benefit in the event of a claim from the guarantees in the insurance policy. It is an expense towards the preservation, maintenance and administration of the immovable. Although the syndicate assumes this cost, it is charged back to the co-owners as a portion of their common expenses (condo fees).
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