An insurance Broker is...

An insurance broker acts as an intermediary between the insured (the client seeking insurance) and the insurer (the company providing insurance coverage). In this role, the broker does not become a party to the insurance contract itself. Instead, the broker facilitates the transaction, helping clients understand their needs and find suitable insurance products from various insurers, but they do not enter into a contract with the insured.

This means that while they play a vital role in the process of obtaining insurance, the contractual relationship is ultimately between the insured and the insurer. The broker’s responsibilities include advising clients on insurance coverage, comparing policy options, and assisting with claims, but their function does not include assuming liability or responsibility as a contracting party.

Understanding the nature of the broker's relationship with both the insured and the insurer is crucial. Unlike agents who may have the authority to bind the insurer to a contract, brokers typically do not possess such authority, which further clarifies their position as not being a party to the insurance contract itself.