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Independent agents own and control their accounts, policy records, and renewals. If an independent agent’s contract with a particular insurance company terminates, the agent retains the rights to active accounts and may place them with another insurer. Competition exists between exclusive agents and independent agents.
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
An independent agent may be able to find a better deal for your insurance needs than you can. Ultimately, you will need to decide if these and other possible advantages are beneficial to you ...
The name was changed again in 1975 to the Independent Insurance Agents of America. In 2002, the association became the Independent Insurance Agents & Brokers of America (IIABA or the Big "I") to encompass the group's entire membership of independent insurance agents and brokers. Robert Rusbuldt is the current Big "I" president & CEO.
A captive insurance agent works exclusively with one insurer, selling only that company’s products (e.g., a State Farm agent who solely sells State Farm insurance policies). An independent agent ...
Insurance Services of America is an independent insurance brokerage specializing in insurance services, international health insurance, and short-term medical insurance for US citizens. In addition to working directly with clients, the brokerage is a managing general agent (MGA) with over 4,000 licensed insurance agents and agencies throughout ...
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