Agency

{
  "id": "MLC-T-INS-000354",
  "term": "Agency",
  "field": "Insurance and risk management",
  "definition": "A business entity or individual authorized to represent an insurance company in selling and servicing insurance policies. An agency acts as an intermediary between the insurer and the policyholder, performing functions such as quoting, binding coverage, and sometimes handling claims. Agencies can be captive, representing only one insurer, or independent, representing multiple insurers.",
  "url": "https://mlchart.com/terminology/insurance/agency/"
}