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What is an Insurance Agent?  

What is an Insurance Agent?  

Insurance Agents can be classified into two separate categories:  1. Retail Agent; and 2. Wholesale Agent.  A Retail Agent is an insurance licensee who acts as an intermediary between an individual/entity seeking insurance coverage and an insurance carrier to underwrite the insurance coverage sought.  Retail Agents may also work with other intermediaries such as Wholesale Brokers and MGA’s, who have carrier binding authority, to place coverage.  By comparison, a Wholesale Agent does not typically interface with the individual/entity insured directly but rather acts as an intermediary between Retail Agents, in an aggregating capacity, and an insurance carrier or the insurance carriers’ MGA to bind coverage.