Can you be a captive and independent insurance agent?
Can you be a captive and independent insurance agent?
In short, captive insurance agents are contracted to work for one insurance company and can only sell that company’s policies. On the other hand, independent agents are contracted to work with a variety of insurance companies and can sell policies from multiple providers.
Are captive agents employees?
A captive agent is paid by that one company, usually with a combination of salary and commission, plus benefits. They may be a full-time employee or an independent contractor.
What type of agent does not own his book of insurance business?
More often they do not own their book of business. Meaning, if they were to quit, the policies that they have written would stay with the employer/insurance company. An independent insurance agent works for himself and not the insurance company.
Which insurance companies have captive agents?
What is a captive insurance agent? A captive insurance agent is an insurance agent appointed only to write insurance policies by one insurance company. State Farm, Allstate, and Geico are all insurance companies that will only sell their products through their agents.
Who is a captive?
plural captives. Definition of captive (Entry 2 of 2) 1 : one who has been captured : one taken and held usually in confinement Something there is in us that finds captivity captivating, particularly when the captives are prisoners of war.—
What’s the difference between a captive and a prisoner?
As nouns the difference between prisoner and captive is that prisoner is a person incarcerated in a prison, while on trial or serving a sentence while captive is one who has been captured or is otherwise confined.
Is held captive?
Captivity, or being held captive, is a state wherein humans or other animals are confined to a particular space and prevented from leaving or moving freely. An example in humans is imprisonment. Prisoners of war are usually held in captivity by a government hostile to their own.