What is an agent's fiduciary responsibility?

An agent's fiduciary responsibility is fundamentally rooted in the obligation to act in the best interest of clients and uphold ethical standards in transactions. This means that agents must prioritize their clients' needs and interests above their own financial gain or the interests of the insurance companies they represent. They must provide clients with honest and accurate information, maintain confidentiality, and avoid conflicts of interest.

This responsibility ensures that clients can trust their agents to provide guidance and recommendations that truly benefit them, rather than serving the agent's or insurer's interests. Upholding such ethical standards is crucial in building and maintaining long-term relationships between agents and clients, as well as in fostering trust in the insurance profession overall.