Independent agency system

{
  "id": "MLC-T-INS-001802",
  "term": "Independent agency system",
  "field": "Insurance and risk management",
  "definition": "A distribution channel for insurance where independent agents represent multiple insurance companies and sell their products to clients. These agents own the expirations of the policies they sell, meaning they control the renewal rights and can place business with different insurers. This system offers consumers a choice of carriers and products, as agents are not tied to a single company.",
  "url": "https://mlchart.com/terminology/insurance/independent-agency-system/"
}