What is the primary difference between an agent and a broker?

What is the primary difference between an agent and a broker?

The primary difference between an insurance broker and an insurance agent is who each represents. While a broker represents the insurance buyer, an agent represents one or more insurance companies. Jan 26, 2018

Is an insurance agent the same as a broker?

There are two main differences between insurance agents and brokers: Agents represent insurers, while brokers represent consumers. Agents can complete insurance sales (bind coverage), while brokers cannot.

Who are agents and brokers?

Agent Versus Broker An agent represents one or more insurance companies. He or she acts as an extension of the insurer. A broker represents the insurance buyer. Agents serve as representatives of insurance companies and may be captive or independent. Oct 25, 2021

What type of insurance agent makes the most money?

Overview of the Insurance Field While there are many kinds of insurance (ranging from auto insurance to health insurance), the most lucrative career in the insurance field is for those selling life insurance.

Is insurance a good industry to work in?

Working for an insurance company can be a rewarding and exciting profession that may allow you to make a positive impact on people’s lives. Insurance companies typically offer several benefits, including employee perks, team collaboration and a diverse work culture. Mar 25, 2021