A person who represents only one insurance company and is restricted by agreement from submitting business to any other company, unless it is first rejected by the agent's captive company. (See Exclusive agent )

"Captive Agent" In Context

"Western National was the dominant bank channel carrier. New York Life led in captive agent and large/regional broker-dealer sales. USAA was the direct/third party channel leader. Allianz posted top independent producer sales. Fourth quarter’s top five ..."