The Ownership Illusion

For decades, captive carriers have sold a story so well-rehearsed that most agents never think to question it: that the book of business they spent years building somehow belongs to them. It doesn't.

This issue dismantles the language carriers use — "your" book, "your" clients, "your" renewals — and walks through the specific contract clauses that define who actually owns the asset when an agent walks out the door.

You'll learn how to read a captive agreement for ownership signals, identify the three clauses that quietly transfer equity back to the carrier, and understand why "vested" rarely means what you think it means.

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