Agent

An agent is usually a sales representative that offers the products of only one insurance company. For example, the Co-Operators. The agent is an employee of the insurance company.

This can create certain limits for the agent when a claim occurs.The agent has the same rules and obligations of a broker and is required to be licensed to do business. This person's information is limited to the one company that they represent.

The agent can have an advantage with representing one company with faster processing times. The company can have customized some of their coverages that would not be available to a broker.

An agent can also represent more then one company. This agent can then broker for more then one insurance market.

If you are not sure of the markets available to your insurance representative then you need to ask.