Independent Agent

Independent Agent

An insurance agent who sells policies on behalf of several different companies. That is, an independent agent is self-employed and keeps commissions from whatever company for which he/she sells policies. Theoretically, an independent agent can offer objective advice, though if one company offers higher commissions than the others this can create a perverse incentive.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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Commenting on sales, John Matovina, Chairman and Chief Executive Officer, said: "We delivered substantial sequential and year-over-year increases in FIA sales in American Equity Life's independent agent channel.
* For many years as an independent agent, I have focused on the unique value-added premises independent insurance agents operate upon and have taught many peers how to maximize those same market advantages in programs on how agents can create unique value.
Progressive offers a different twist, however, as it has focused on fueling its independent agent and direct-to-consumer distribution channels in equal measure.
Tyler Asher, president of independent agent distribution for Liberty Mutual, said, 'We're deeply honoured to receive the highest score for commercial insurance agent satisfaction for the second year in a row, and a top-three spot for personal lines.
Williamson said, "Chubb Small Commercial Insurance is focused on innovation for independent agents. Our expansion into life sciences is another step on our journey to changing how small business insurance gets done in the independent agent channel."
The Foremost-branded small commercial independent agent book of business, which is sold through more than 5,000 agents and brokers nationwide, has approximately USD 200m in annual premium as of Dec.
In 2017, NU forged an alliance with the National Association of Professional Insurance Agents (PIA) and FlaspEu;hler | NMG to conduct the inaugural Independent Agent Study -- a research project designed to annually take the pulse of independent Property & Casualty insurance agents throughout the U.S.
At this point, Step 4B becomes more pronounced, since property, and casualty insurance purchases are made through an independent agent 56 percent of the time.
who is not an "independent agent" (9) and who negotiates contracts on behalf of the foreign person under authority delegated to him by such person.
Allows client to see billing statements, coverages, premiums, etc., without having to dial in to an independent agent's own system."
Meanwhile, the buyer and his or her attorney know that the deposit is secure and safe, earning interest and is in the hands of a bonded, independent agent which represents both parties equally.
Progressive offers a different twist, however, as it has focused on its independent agent and direct-to-consumer distribution channels in equal measure.

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