Insurance Broker Vs. Agent in The United States
Though not an absolute separation; an insurance agent is an insurance company's representative by way of agent-principal legal custom. The agent's primary alliance is with the insurance carrier, not the insurance buyer. In contrast, an insurance broker represents the insured, generally has no contractual agreements with insurance carriers, and relies on common or direct methods of perfecting business transactions with insurance carriers. This can have a significant beneficial impact on insurance negotiations obtained through a broker (vs. those obtained from an agent).
Of note, the term insurance producer generally encompasses both an insurance agent and an insurance broker.
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“In the United States there’s a Puritan ethic and a mythology of success. He who is successful is good. In Latin countries, in Catholic countries, a successful person is a sinner.”
—Umberto Eco (b. 1932)
“The Republican convention, an event with the intellectual content of a Guns’n’Roses lyric attended by every ofay insurance broker in America who owns a pair of white shoes.”
—P.J. (Patrick Jake)
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—John Dos Passos (1896–1970)
“I wish not to be given a title or an appointed position. I can and will do more good if I were made a Federal Agent at Large, and I will help best by doing it my way through my communications with people of all ages. First and Foremost I am an entertainer but all I need is the Federal Credentials.”
—Elvis Presley (1935–1977)
“Nova Scotia, New Brunswick, and Canada are the horns, the head, the neck, the shins, and the hoof of the ox, and the United States are the ribs, the sirloin, the kidneys, and the rest of the body.”
—William Cobbett (1762–1835)
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—Rutherford Birchard Hayes (1822–1893)