They represent the various insurance companies and have to pass the qualifying examinations given by the Insurance Commission. These intermediaries are either the insurance agents or insurance brokers as defined in Title 1, Chapter 4 of Republic Act 10607 otherwise known as the Insurance Code of the Philippines. Insurance brokers have a direct and close relationship with their clients as they prepare their insurance programs. There are about 60 insurance brokers in the country based on the statistics of the Insurance Commission as of end 2019. It is in endeavors like this where insurance brokers can play a significant role of working hand in hand with the insurance companies.

Source: Manila Times May 09, 2021 16:08 UTC