Various Regulatory Aspects of Insurance Brokerage

Document Type : Research Article

Authors

1 Associate Professor, Law Department of Tehran University

2 Master in Oil & Gas Law from Tehran University

Abstract

Nowadays, insurance intermediaries, especially insurance brokers, who act as a bridge that connects insurers to insureds, have a salient role in the development of insurance industry. Insurance brokers select the best possible portfolio of insurance products for their clients in insurance market. This leads insurers to promote further the variety of their insurance products and, in turn, enhancing their sale. It is inevitable to regulate insurance brokers in order to protect customers against their misconduct and misrepresentation. In this article, the assumed theory is based on the fact that regulation of insurance brokerage’s relationships cannot merely based on private law principles, so there is a need to intervene public law to regulate them. In this study, introducing the functions of insurance brokers and their benefits, various regulatory aspects of insurance brokerage are presented and investigated considering examples from other countries and Iran

Keywords

References

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Iranian Journal of Public Policy
Volume 5, Issue 3
December 2019
Pages 270-289

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