Who acts on behalf of an insurer or serves as a broker in selling insurance products?

The term that accurately describes the individual who acts on behalf of an insurer or serves as a broker in selling insurance products is an Insurance Producer. An Insurance Producer is licensed to sell, solicit, or negotiate insurance on behalf of an insurance company. This role involves understanding various insurance products, advising clients on their needs, and ultimately facilitating contracts between insurers and policyholders.

In contrast, an Insurance Adjuster evaluates claims to determine the amount an insurer should pay for a loss. They work after a claim has been made rather than selling insurance products. An Insurance Underwriter evaluates the risk of insuring a client and decides the premiums and coverage terms, also not directly involved in the sales process. An Insurance Regulator oversees the insurance industry, ensuring compliance with laws and regulations, but does not engage in the selling or brokering of insurance products. Thus, the role of an Insurance Producer is integral to the sales and distribution of insurance, making it the correct answer.