Insurance intermediaries in USA

The main insurance intermediaries in USA are listed as follows:

• Individual Licensed Producers: holders of a license, they required to be registered in all States in which they operate. Based on a total of 11 191 953 of granted licenses, 2 408 464 pertain to resident intermediaries, that is, those that are registered in the State where they are operating. The other licenses granted, that is, 8 878 177 pertain to non-resident intermediaries, meaning companies that operate in the States where they are not registered.
• Business Entities: mainly brokerage companies, business entities are submitted to the same regulations as producers. The total number is 788 382 entities equally dispatched between resident and non-resident ones.

In addition to these two major categories of intermediaries, American authorities also included in their nomenclature the Surplus Line Brokers, the Bail Bonds Agents and Adjusters.

• Surplus Line Brokers: They are brokers who place business with insurance companies not licensed in the State of the broker. This practice is authorized only for businesses that do not have coverage in the State where the risk and the broker are licensed.
• Bail Bond Agents: Agents or agencies dedicated to providing insurance policies that cover bail bonds. By 31 December 2021, their number stood at 15 469.
• Adjusters: Estimated at 1 407 741 in 2017, they are operating as individuals or within the framework of a company. They manage and settle the claims entrusted to them by the customers.

2017 registered insurance intermediaries in USA

Source: NAIC 2021 Insurance Department Resources Report

* The sum of the delivered licenses does not correspond to the total. A producer or an entity may hold several licenses in the same State or in different States.