What is the difference between an insurance agent and broker?
In many respects, these two terms both mean a person or company that markets and sells health insurance to the public. An agent is an insurance company representative who solicits, negotiates or effects contracts of insurance and provides service to the policyholder on behalf of the insurance company. A broker is a marketing specialist who represents buyers of health insurance and who deals with other agents or companies in arranging for the medical insurance coverage for their client. Brokers usually represent more than one insurance company and assist their clients in reviewing many medical insurance plans. A broker is a licensed agent for the insurance companies for whom is he authorized to write policies. Some agents work exclusively for one insurance company, so they are not considered brokers. Both agents and brokers must be licensed in every state in which they conduct business. If a broker sells insurance in a state where he does not reside, he is considered a non-resident brok
