What is the role of the insurance broker in Massachusetts?

In Massachusetts, the primary role of an insurance broker is to represent the insured, which aligns with the correct choice. Brokers act as intermediaries between clients seeking insurance coverage and insurance companies. Their responsibility is to assess the insurance needs of individuals or businesses and then find the most suitable insurance policies that fit those needs. This involves evaluating different policies, advising clients on their options, and helping them understand the terms and conditions of various insurance contracts.

By focusing on representing the insured, brokers ensure that their clients receive appropriate coverage that meets their specific risks and requirements. This fiduciary duty emphasizes the broker's commitment to act in the best interests of their clients, providing them with necessary information and guidance throughout the insurance purchasing process. This focus on the insured distinguishes brokers from agents, who typically represent insurers rather than clients.

The other roles mentioned, such as claims processing, representing the insurer, or managing regulatory compliance, do not encapsulate the fundamental role of an insurance broker and highlight different aspects of the insurance industry that are not the primary responsibilities of a broker in Massachusetts.