Which type of agent retains ownership rights to the business and accounts?

The independent agent retains ownership rights to the business and the accounts they generate. This is a key characteristic that differentiates independent agents from other types of agents. Independent agents represent multiple insurance carriers and have the ability to offer their clients a variety of policy options, which allows them to build their own client base and maintain control over their business relationships.

By retaining ownership rights, independent agents are able to cultivate long-term relationships with their customers, rather than being tied to a single insurer. This autonomy enables them to better serve the needs of their clients, as they can choose the best policies for them from various providers, ensuring that they are not limited to a single insurer's products or pricing.

In contrast, direct writers, captive agents, and brokers operate under different business models. Direct writers are employed by an insurance company and only sell that company's products, meaning they do not have ownership of the accounts. Captive agents represent a single insurance carrier and are often limited to that company's offerings, which can restrict their ability to build a diverse portfolio. Brokers act as intermediaries between clients and insurance companies but do not typically retain ownership rights over the accounts in the same way that independent agents do.