Must a broker maintain a company appointment?

A broker does not need to maintain a company appointment unless they are acting as an agent for an insurer. This is because brokers typically represent the insured, helping them to obtain insurance coverage from different companies rather than acting directly on behalf of a particular insurer. When functioning as an agent for an insurer, the broker would indeed need to have an appointment with that specific company to legally transact business on their behalf. This distinction emphasizes the broker's role in the market and clarifies when a formal company appointment is necessary. Other options may suggest more stringent requirements that do not apply universally to brokers, focusing instead on specific conditions under which the appointment would become relevant.