What does AGENCY CAPTIVE mean?

AGENCY CAPTIVE meaning in Insurance Dictionary

Unlike other styles of captives, company captives are not designed to provide insurance coverage because of their owners. Rather, they benefit the insurer, broker, or broker that owns the organization. Representatives and agents are often compelled to make captives to give markets for their consumers if the insurance marketplace is in a "hard pattern." See in addition Insurer-sponsored agency captive.

AGENCY CAPTIVE meaning in Law Dictionary

CAPTIVE, owned by more than one INSURANCE AGENTS, used to write insurance policy for many third party customers. See also CLUSTER CAPTIVE, PROTECTED CELL COMPANY,PURE CAPTIVE, RENTACAPTIVE, SISTER CAPTIVE.