Definition of "Agent"

Duane Hayden- Tampa
Duane Hayden- Tampa's Home Team, Real Estate Agent RE/MAX Capital Realty

Individual who sells and services insurance policies in either of two classifications:

  1. Independent agent represents at least two insurance companies and (at least in theory) services clients by searching the market for the most advantageous price for the most coverage. The agent's commission is a percentage of each premium paid and includes a fee for servicing the insured's policy. See also AMERICAN AGENCY SYSTEM.
  2. Direct writer represents only one company and sells only its policies. This agent is paid on a commission basis in much the same manner as the independent agent.

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