Which of the following statements is true regarding independent insurance agents in property and liability insurance?
A)The insurer owns the expiration rights,not the independent agent.
B)Independent agents are only permitted to represent one insurance company.
C)Independent agents are paid the same commission rate on new and renewal business.
D)Independent agents are not permitted to sell life and health insurance.

Question

Quizplus · Accepted Answer

Independent agents typically receive the same commission rate on both new and renewal business, as they work with multiple insurers and maintain client relationships over time.

Which of the Following Statements Is True Regarding Independent Insurance