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Captive agent

A captive agent is an individual who exclusively represents a single insurance company and is bound by contract to only submit business to that company. They are not allowed to work with any other insurance company unless their captive company declines the business first. This arrangement often limits the options available to the client, as the captive agent is not able to provide quotes from other companies.

Conditionally renewable

An insurance policy with the flexibility to be terminated or have its premiums increased by the insurer on a designated date, contingent upon predetermined reasons outlined ...

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Term insurance

Term life insurance is a type of insurance that provides coverage for a specific period, or term, as stated in the policy. This coverage only pays out to a designated benefi...

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Investment income

Investment income is a crucial aspect of insurance companies' financial success, as it refers to the earnings they receive from investing their assets. In fact, insurers rely...

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Other insurance clauses

In the world of finance, it is essential to understand the clauses found in indemnity contracts and valued contracts. These clauses often limit the liability of the insurer i...

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