who does an insurance broker represent
Such a broker has no control or possession of the product that is sent directly to the buyer; he or she merely acts as a middleperson in all transactions. An insurance broker acts as an intermediary between the insurer and the insured and is distinguishable from an insurance agent. While an insurance agent is employed by, and represents, a particular insurance company, an insurance broker is a representative of the insured only. An insurance agent is bound by company rules and responsibilities, whereas an insurance broker's only duty is to aid a client. He or she owes no obligation to any company. Real estate brokers or agents are hired to transact the buying and selling, lease, or rental of real property on a commission basis.