Broker Of Record

An individual empowered with agency by the principal owner(s) of an insurance policy.

Tony was conducting his annual review of his insurance policy with his broker who asked, several times, if Tony wanted to amend his policy for the possibility of covering a spouse and/or children.

In an ironic misuse of the term, Tony replied “You and my mother both keep asking me: ‘when are you getting married? When are you getting married?’…you sound like a broker of record!”