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ISB - Insurance Service Brokerage
Cotta
Posts: 3,667 Forumite
Good Morning All,
Could anyone advise what ISB relates to? I think it means Insurance Service Brokerage and I think it's a service Brokers offer to their clients, however I would like a little more in-depth information if possible please?
Thank you.
Could anyone advise what ISB relates to? I think it means Insurance Service Brokerage and I think it's a service Brokers offer to their clients, however I would like a little more in-depth information if possible please?
Thank you.
0
Comments
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Good Morning All,
Could anyone advise what ISB relates to? I think it means Insurance Service Brokerage and I think it's a service Brokers offer to their clients, however I would like a little more in-depth information if possible please?
Thank you.
Yes, it's just a different type of commission payment from an insurer to a broker.0 -
So basically an insurer may give a Broker 10% of the premium for putting a client on cover with them.
ISB kicks in if the insurer asks the Broker to perform additional tasks such as issuing out documentation etc?0
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