american agency system

  • The system of selling through agents compensated by commissions, the agents having the sole right to solicit insureds at expiration of their policies. (Ownership of renewals, so called.)

    Internal Revenue Service 1
    See also twisting

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).