What is an Insurance Broker

Insurance Brokers maybe divided into two separate categories: 1. Retail Broker; and 2. Surplus Lines Broker.  A Retail Broker is an intermediary who represents the individual/entity seeking insurance and an insurance carrier, or Carrier’s MGA, to underwrite the insurance coverage sought.  A Surplus Lines Broker is also an intermediary between the insured and the carrier who specializes in the placement of coverage for high value or other risks, which are not readily insurable through the admitted carrier market, with carriers on the states E&S whitelist of approved carriers.