Agents who represent solely one company are known as which type of agency?

Agents who represent solely one company are referred to as exclusive or captive agents. This type of agency structure means that the agent is contracted to sell insurance products only from a specific insurer, giving them deep knowledge and expertise in that company's offerings. Being affiliated with only one insurer allows these agents to provide tailored services and a focused product line, which can be beneficial for consumers looking for specific insurance solutions.

In contrast, other agency types operate differently. Independent agencies work with multiple insurers and offer a variety of products from different companies, thereby having the flexibility to provide a broader range of choices to their clients. Affiliated agencies often imply a connection to multiple insurers but may not operate in the same capacity as exclusive agents. General agencies typically manage a network of agents and handle larger markets but do not limit their agents to one company.

Thus, recognizing that exclusive or captive agents work solely for one insurer helps distinguish their role and function within the insurance market.