What is the Definition of Exclusive Agent?
A captive agent, or a person who represents only one insurance company and is restricted by agreement from submitting business to any other company unless it is first rejected by the agent’s company. (See Captive agent)
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Exclusive Agent?
You can find random definition and meaning of insurance terms below:
Meaning of Solvency Ii in Insurance Terms
A collection of regulatory requirements for insurance firms that operate in the European Union, scheduled to take effect in 2012.
Meaning of Specified Disease Coverage in Insurance Terms
A type of health insurance coverage that provides benefits for the diagnosis and treatment of a specifically named disease or diseases, such as cancer. Also known as dread disease coverage. Contrast with Critical illness (CI) insurance.
Meaning of Spendthrift Trust Clause in Insurance Terms
Life insurance provision that protects policy payouts from the beneficiary’s creditors.
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