producing broker

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21:18 May 17, 2018
English to Polish translations [PRO]
Bus/Financial - Business/Commerce (general)
English term or phrase: producing broker
producing broker agreement

Where the assured appoints a producing broker, and the producing broker delegates some or all of its duties to a placing broker, the authorities take the approach that if things go wrong then the assured has a claim only against the producing broker. It is then a matter for the producing broker to seek to recover damages or contribution from the placing broker based upon the latter’s degree of responsibility for the loss.
becky_sharp
Poland


Summary of answers provided
4broker bezpośredni
Roman Kozierkiewicz
Summary of reference entries provided
producing broker
geopiet

Discussion entries: 1





  

Answers


7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
broker bezpośredni


Explanation:
Zgodnie z definicją podaną przez Geopiet tj. The original producing broker will be the person who deals directly with the client. The term producing broker is often used in contrast to the term of placing broker although it is common for individual brokers and broking firms to undertake both functions.

Roman Kozierkiewicz
Local time: 00:04
Specializes in field
Native speaker of: Native in PolishPolish
PRO pts in category: 1079
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Reference comments


13 mins peer agreement (net): +1
Reference: producing broker

Reference information:
This term may refer to (a) the individual broker who obtains a proposal for insurance or reinsurance for the broking firm for which he works; or (b) a broking firm or individual broker that is responsible for introducing a proposal for insurance or reinsurance to another broking firm. The original producing broker will be the person who deals directly with the client. The term producing broker is often used in contrast to the term of placing broker although it is common for individual brokers and broking firms to undertake both functions.

https://www.lloyds.com/help-and-glossary/glossary-and-acrony...

geopiet
Native speaker of: Native in PolishPolish
PRO pts in category: 226

Peer comments on this reference comment (and responses from the reference poster)
agree  Frank Szmulowicz, Ph. D.
2 hrs
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