Definitions for "General Agency System"
Type of life insurance marketing system in which the general agent is an independent businessperson who represents only one insurer, is in charge of a territory, and is responsible for hiring, training, and motivating new agents.
A type of ordinary agency insurance distribution system wherein general agents establish and maintain field sales offices for an insurance company. See also general agent and ordinary agency distribution system.
An insurance distribution system where an insurer appoints a general agent to service the agents within a specified geographic area, rather than opening an insurance company branch office.