The knowledge of an insurance broker extends beyond just understanding insurance contracts. Their education and experience have both been concentrated on particular insurance and risk management areas. As you hunt for the best policies for your needs, they act as your representative. They exclusively work for you, not the insurance provider. However, they are unable to bind the coverage on the insurer's behalf because they do not speak for the insurance provider. In order to finalise your transaction, brokers hand over your account to an agent or the insurance company.