Who represents the insurance company in transactions?

The insurance agent serves as the representative of the insurance company in transactions. Agents have a contractual relationship with the insurer, allowing them to sell the company's products, bind coverage, and act on behalf of the insurer in various dealings with clients. Their primary role is to represent the interests of the insurance company while also aiding clients in understanding and purchasing insurance policies that fit their needs.

In contrast, brokers typically represent the policyholders rather than the insurance companies, seeking the best options for their clients. Underwriters are responsible for evaluating risk and determining the terms of coverage but do not interact directly with clients the way agents do. Adjusters work for the insurer to assess claims and determine the compensation owed, again positioning themselves as advocates for the insurance company's interests rather than as representatives in transactions. Thus, the role of an insurance agent is specifically to act on behalf of the insurance company in the sales process.