How is Producing broker defined in a legal contract?
- Producing broker means a licensed agent or broker who interacts directly with the party looking for insurance and could also be a surplus lines licensee. Seen in 12 SEC filings
- Producing broker means the agent or broker who handles the matter directly with the person seeking insurance. Seen in 5 SEC filings
- Producing broker means a broker responsible for initiating a proposal for insurance or reinsurance. Seen in 1 SEC filing
Please note that definitions containing specific locations and individuals have been skipped as per the formatting guide.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of producing broker' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Producing broker means a licensed broker or agent who directly interacts with the party seeking insurance.
Relevant Contract Types
Relevant Circumstances
- When an entity or individual seeks to obtain insurance.
- Defining roles in insurance-related conflicts or disputes, where it's important to determine who advised and interacted with the policy seeker.
- Guideline for hiring a broker or agent.
Relevant Sectors
Genie Definition 2
Producing broker means a broker responsible for initiating an insurance or reinsurance proposal.
Relevant Contract Types
Relevant Circumstances
- When an entity seeks to redistribute risk through reinsurance.
- When defining the role of a broker in proposing insurance or reinsurance contracts.
Relevant Sectors
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Producing broker means a licensed broker or agent who directly interacts with the party seeking insurance.
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