An insurance broker is also known as an insurance agent. An insurance broker sells, solicits, or negotiates insurance for compensation. Insurance brokers act as liaison between clients and insurance companies. Clients may be either individuals or commercial businesses and organizations. Insurance brokers map out insurance policies and arrange cover, acting in the best interest of their clients. Insurance brokers under retail arrange insurance policies, from motor, house, travel or pet cover for individuals or property. Insurance brokers as a general term also extend to commercial insurance brokers in marine, aviation, oil and gas and financial sectors. Insurance brokers also advise clients on risk management and help devise new ways to mitigate risks.