Who represents an insurance company in transactions?

The role of an insurance agent or producer is to represent the insurance company in transactions. They are typically licensed professionals who can sell insurance policies on behalf of the insurer. Agents have a fiduciary duty to act in the best interests of the insurance company, ensuring that policies are accurately described and that clients understand the terms and conditions of their coverage.

Insurance agents maintain a relationship with the insurer, often facilitating communication between the company and policyholders, assisting with policy renewals, and addressing customer inquiries and claims. Their deep understanding of the insurance products they represent allows them to provide tailored advice to clients, helping to match consumers' needs with the right insurance solutions.

In contrast, an insurance underwriter assesses risk and determines the terms of policy coverage but does not directly engage in transactions with clients. An insurance broker acts on behalf of clients rather than the insurer; they help clients find the best policy options from various insurance companies rather than representing a single insurer. An insurance adjuster works for the company to evaluate claims and determine the amount payable on claims but is not involved in selling policies or representing the company in transactions.