According to insurance law, an insurance agent is a person who

A) receives a fee as an independent contractor to investigate and negotiate the settlement of claims arising under insurance contracts
B) solicits, negotiates, procures or effects insurance or annuity contracts on behalf of an insurer
C) is compensated as an independent contractor to procure insurance on behalf of another person, but not on behalf of an insurer or agent
D) receives a fee to advise insurance applicants on the merits and disadvantages of insurance policies"

Ans: B) solicits, negotiates, procures or effects insurance or annuity contracts on behalf of an insurer