5. Property and casualty insurance can be marketed under different marketing systems. Compare the independent agency system with the exclusive agency system with respect to each of the following: a. Number of insurers represented by the agent b. Ownership of policy expirations

5.a. Agent representation of any number of insurers: Independent agencies are free to represent any number of insurers. Only one company is represented by exclusive agencies. b. Policy expiration ownership: The agencies have ownership over renewal rights and are free to transfer business to an independent agency. A sole agent does not hold ownership of renewal.