Independent insurance agents, also known as insurance sales agents or “producers”, typically sell a variety of insurance and financial products, including property insurance and casualty insurance, life insurance, health insurance, disability insurance, and long-term care insurance.

What are the different types of insurance brokers?

There are generally two types of insurance brokers: retail and commercial. They specialize in different types of coverage and policies. Professional brokers who act on behalf of companies and individuals are called retail insurance brokers.

What’s the difference between a broker and an agent?

Wholesale brokers provide specialized insurance products to retail agents or brokers. These types of brokers have no contact with the end buyer—the individual, family, or business that buys the insurance. They provide specialized knowledge and expertise on insurance for more complex risks.

What kind of license do you need for personal insurance?

The license known as the property and casualty license is what is offered by most states. Meaning, one license for personal and commercial lines insurance products. Personal Lines. Like the name insinuates, personal lines are geared towards policies bought by individuals. Examples of personal lines policies may include: Renter insurance

What do insurance brokers do for their clients?

Instead, brokers work on behalf of their clients (individual consumers). When a consumer hires an insurance broker, the broker will search through the many available plans and identify the one that best fits their customer’s needs. When most people think of an insurance agent, they’re thinking of an insurance producer.

How to become a certified insurance broker or adjuster?

As an insurance agent, broker or adjuster, you could become eligible for the National Alliance’s Certified Insurance Counselor (CIC) designation after you attend a certain number and combination of training programs and courses and pass their corresponding examinations.