Independent Agent

Agent representing several insurance companies. The agent is independent from all the companies he or she sells for, and can therefore in theory evaluate different insurance policies objectively. Independent agents pay all their own expenses and keep their own records and earn their income from commissions on the policies they sell. The opposite of an independent agent is a Captive Agent who works exclusively for one company.

Contractor who represents different insurance companies and who searches the market for the best place for a client's business. The independent agent, who owns the records of policies sold, is not controlled by any one company, pays agency's expenses out of the commissions earned, and is responsible for maintaining employee benefits.