What is the term for a business entity that sells or negotiates insurance on behalf of insurers?

The term for a business entity that sells or negotiates insurance on behalf of insurers is "Insurance Agency." An insurance agency represents one or multiple insurance companies and acts as an intermediary between the insurers and the clients seeking coverage.

Agencies typically provide a range of services, including advising clients on policy options, helping them choose suitable coverage, and assisting with the claims process. They are also responsible for maintaining relationships with both insurers and clients, ensuring that the clients' needs are met and that the insurers’ products are effectively represented in the market.

While "Insurance Brokerage" may seem similar, it generally refers to a slightly different entity that typically works with multiple insurers to find coverage that best fits the client's needs, often focusing more on facilitating the purchase and comparison of policies rather than representing a specific insurer. An "Insurance Firm" and "Insurance Partnership" are less commonly used terms in this context and might not accurately represent the specific role of selling or negotiating insurance on behalf of an insurer. Thus, "Insurance Agency" is the most precise term for the described entity.