Who is defined as someone who solicits insurance or assists in placing risks without being a licensed broker?

The correct answer is that an agent is defined as someone who solicits insurance or assists in placing risks without being a licensed broker. In the insurance industry, an agent typically represents one or more insurance companies and works to sell policies or assist clients in obtaining coverage. This role often involves helping clients understand their options, find suitable coverage, and manage their insurance needs.

This definition is particularly significant because agents play a crucial role in the distribution of insurance products, even if they do not carry the broker designation. Brokers, in contrast, usually represent the insurance buyer and have a different relationship with the insurance companies, often needing a different level of licensing and fiduciary duty.

The roles of underwriters and adjusters are more specialized within the insurance field. Underwriters assess risk and determine the appropriate premiums and coverage terms for insurance policies, whereas adjusters evaluate insurance claims, ensuring that claims are processed fairly and that the proper payouts are made based on the policy terms. These roles do not involve the solicitation of insurance in the same manner as agents or brokers.