How Do You Set Up An Insurance Brokerage Business In New York State?
An insurance broker is involved in selling the products of different insurance companies (carriers). Therefore, an insurance broker acts as a liaison between the client and the carrier. An insurance brokerage business earns a commission based on how much business it attracts for the carrier. You will need to establish a credible reputation for your business as most insurance companies tend to look for a broker who has a good track record. You will also need experience and skills in the industry before you can start your own insurance brokerage business. Analyze the industry and choose an area of focus. There are many insurance products you can sell in New York. These include travel insurance, health insurance, life insurance, auto insurance and property insurance. Register your business. Register your business name and business with the New York Secretary of State. Also, register with the Internal Revenue Service (IRS) to get a Federal Employee Identification Number. Arrange to take th
