Frequently Asked Questions

What is a broker?

An insurance broker is an intermediary in the area of property and personal insurance and reinsurance, registered with the Serbian Business Registers Agency, with the authorization and by the decision of the National Bank of Serbia.


Broker – intermediary is an independent expert company acting as an expert intermediary between the parties that wish to conclude an insurance contract between them. Protection from the risk needs to be appropriate and tailored to the client’s needs, so it is best to seek assistance from experts with vast experience in this field.

What are the broker’s obligations to the client?

Broker – intermediary conducts his activities in accordance with the rules of the profession, following good business practice. A broker monitors the terms of the contract, i.e. helps the insured to attain the best possible protection, and for that purpose continuously prepares the analysis of the insured’s needs (selection of the best offer, price of insurance, discount rate, payment in installments, creditworthiness of the insurer, assistance with the processing of claims, scope of the coverage…)

Who supervises the activities of the broker?

Pursuant to the Law on Insurance, the National Bank of Serbia is in charge of the supervision. In accordance with legal requirements, the broker submits the data in the required volume, manner and time frames to the competent government institutions throughout the year.

Why hire a broker?

A brokerage company is a self-governing and independent group of experts in the field of insurance, with years of professional experience. A broker has business cooperation agreements with Insurers in Serbia. This allows the broker to represent the interests of his clients in the best possible way. Your cooperation with a broker, which does not require you to pay any fees, may significantly save your time and resources (source of assistance) which you would need to hire yourself.

Who pays the broker?

The intermediary commission (brokerage fee), in line with the EU directives, from the expense loading within premium is paid by the Insurer (insurance company). This obligation of the Insurer lasts for the duration of the contract, as long as the Insured is paying premiums.

What is the difference between an intermediary (broker) and an agent?

A broker – intermediary acts in the name and on behalf of the Client (Insured) and represents his interests. An agent acts in the name and on behalf of the Insurer (Insurance Company) offering to the prospective Insured the terms and conditions under which he can insure his property and person with the Insurer.

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