General agency system

{
  "id": "MLC-T-INS-001628",
  "term": "General agency system",
  "field": "Insurance and risk management",
  "definition": "A distribution model in the insurance industry where an insurer contracts with a general agent to manage and develop a specific territory. The general agent recruits, trains, and supervises sub-agents or producers, and is often responsible for administrative tasks like policy issuance and premium collection. This system is common in life and health insurance, providing a localized presence for the insurer.",
  "url": "https://mlchart.com/terminology/insurance/general-agency-system/"
}