An Insurance agent is the ambassador between the insurance corporation and the indemnified ones. He helps his clients to choose the best policies as well as helps the company by operating the financial gains. According to the board declaration of law, the agent’s legal responsibility to his clientele is administrative. This means that the representatives are accountable for the appropriate and accurate dispensation of the forms, paper works and premiums. The duties of conducting an examination in the industry and making a suitable reporting do not fall under an agent’s job.
In reality there are two types of agents, the captive one and the independent one. The captive agents work only for one company at a time. His work is to advertise policies only to the insurance holders. The independent agents work for many companies at a time. They can sell policies to several insurers. They can even sell health, disaster, long-term insurances. Annuity policies are also sold by them. They are very often termed as insurance brokers. The stockbrokers have more edification and skill than the agents. They have to work for many states together. They also have to scrutinize the business and secure ample coverage for the business, unlike the agents.