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Are insurance agents captive?

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Are insurance agents captive?

My doubt is from progressive insurance locations near me subject

The question was asked during an interview.

Other related questions to my question are:

Are Progressive insurance agents captive?

Why do insurance companies use captives?

Are nationwide agents captive?

What is an example of a captive insurer?

1 Answer

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The correct answer by me is: A captive agent is an insurance agent that works for only one insurance company. Captive agents only sell the products of the insurance company they work for and cannot help individuals outside of that offering. The opposite of a captive agent is an independent agent that works for many insurance companies.

The title of my answer can be Captive Agent Definition

My answer's reference is Investopedia

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