Which type of insurance broker focuses on a specific sector?

A broker who focuses on a specific sector is known as a niche sector broker. This type of broker specializes in particular industries or segments of the market, allowing them to develop in-depth knowledge and expertise about the unique risks and insurance needs associated with that niche. By concentrating on a specific area, niche sector brokers can provide tailored solutions and advice to their clients, ensuring that they receive coverage that is most appropriate for their specific circumstances.

In contrast, global firms typically offer a broad range of insurance products across various markets and sectors, which may dilute their expertise in any single area. Online brokers leverage digital platforms to facilitate the buying and selling of insurance but do not necessarily specialize in any one sector. Wholesale brokers act as intermediaries between retail brokers and insurance providers, often dealing in more general insurance rather than concentrating on niche sectors.