What is a Wholesale Broker?
Wholesale insurance brokers work with retail insurance agents or brokers to place specialized insurance products for their mutual clients. Wholesale brokers typically have access to unique insurance markets and products that may not be available through traditional insurance channels. Wholesale brokers work with the retail brokers to approach the appropriate coverage at the best price. They often have expertise in niche insurance areas, can provide customized insurance solutions for unique or complex risks, and can wield additional market leverage in these niche spaces. Working with retail brokers who utilize wholesale brokers is essential when it puts the client in the best possible position.
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