A producer who represents multiple insurers is known as what type of agent?

A producer who represents multiple insurers is referred to as an independent agent. This designation reflects their ability to offer a variety of insurance products from different companies, providing clients with a wider range of options to choose from. Independent agents work on behalf of their clients rather than being tied to a single insurance company. This allows them to shop around and find the best coverage and pricing that aligns with the specific needs of their clientele.

In contrast, a captive agent is affiliated with one insurance company and can only sell that company's products, limiting their client's options. An authorized agent generally refers to someone who has been granted permission by an insurer to act on its behalf, which can apply to both independent and captive agents, but doesn't specifically convey the ability to represent multiple insurers. An exclusive agent operates similarly to a captive agent in that they represent a single insurer exclusively, further differentiating them from independent agents. Understanding these distinctions helps in grasping various roles within the insurance industry and the options available to consumers.