# Ownership of expirations

A term used when buying insurance agency.

Who owns the renewal rights to the book, which is a contract question and not a statutory one.

Expirations are the agency's real asset, the right to renew the policies already on the books, and buyers arrive expecting a statute to settle who holds them. There is no general one. The enacted text that does exist is narrow and scoped to a single state program, so the answer lives in the agency's own agreement with each carrier and nowhere else. Read every carrier agreement for its expirations clause before pricing the book, and remember the appointment underneath it is the carrier's grant to a named licensee. Florida requires sixty days of advance written notice before an appointment ends, the termination filed within thirty days, and outstanding contracts left to run to their own expiry. That notice is defeasible in both directions, since it does not apply where the ground would support suspension or revocation and it yields to whatever the carrier agreement says, which is the paragraph's point restated by the statute.

Part of: Buying an Insurance Agency (https://searchspheresource.com/guides/buying-an-insurance-agency)

Source: https://searchspheresource.com/guides/buying-an-insurance-agency/terms/ownership-of-expirations
Not dated: The same editorial definitions as the glossary, inside a trade.

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