An agent is a person who negotiates, solicits and places a contract of insurance on behalf of the insurer (the principal) in exchange for compensation. The agent is usually required to deliver the policy contract.

On Riscario, the term "advisor" is used. Other synonyms for agent are financial advisor, financial planner, and field underwriter.

Learn about

Types of Agents

  • career agents only sell the products of one company
  • other agents (sometimes called "brokers") can sell products from different companies

Differences Between Types Of Distributors

  • an agent's words and actions can bind the insurer whose product is being sold
Item Career Agent Agent Broker
Acts on behalf of one insurer multiple insurers you (the client)
Sells products of one insurer various companies various companies
Can bind insurer with words and actions? yes yes no


Agents are licensed provincially. A license can be suspended for

  • violating the Insurance Act or regulations
  • omissions or misleading information on the licensing application
  • fraud, incompetence, untrustworthy nature

Law of Agency


You can buy insurance without direct contact with the insurer. This is essential for financial services.

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