Independent Agency System

Written by  //  June 22, 2011  //  Insurance Glossary: E-M, Insurance Terms  //  Comments Off on Independent Agency System

This is a system within which independent contractors, known as agents, sell and service insurance solely on a commission or fee basis. They usually have appointments with one or more insurance companies. These carriers acknowledge that they recognize the agent’s ownership, use, and control of policy records and expiration data.

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