INSURANCE DISTRIBUTION
Broker, wholesale definition
A wholesale broker is an insurance broker that helps retail brokers place larger, complex or specialist risks in suitable insurance markets.
In practice, this means wholesale brokers are used by retail brokers and are usually called upon to place larger, more complex, or more niche risks, and/or to provide access to insurance markets to which the retail broker may not have access. Wholesale brokers’ clients are the retail brokers. This gives insurers, brokers, reinsurers and risk managers a shared way to discuss the concept when reviewing policies, claims, regulation or market data.
This term is especially useful in insurance distribution, broking and delegated authority arrangements. It helps users interpret insurance terminology consistently across markets, policies and risk data. It also helps users compare how insurance is structured, regulated, priced or claimed across different markets.
Broker, wholesale is closely related to broker, retail broker, specialist risk and reinsurance. Linking these concepts together helps build a clearer glossary structure and gives readers a stronger understanding of how individual insurance terms connect within wider international insurance practice.
At a glance
- Used in
- Insurance distribution, broking and delegated authority arrangements.
- Purpose
- Helps users interpret insurance terminology consistently across markets, policies and risk data.
- Important because
- Clear definitions support better comparison of insurance products, market practices and regulatory requirements across jurisdictions.
- Related terms
- broker, retail broker, specialist risk and reinsurance.
Example of a wholesale broker in insurance
A retail broker cannot access a specialist market for a complex risk, so it works with a wholesale broker that has the necessary insurer relationships and technical placement expertise.