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Typically, a larger and more powerful business will require that smaller entities (desiring to do business) have the larger business named as an additional insured. For example, a landlord in a commercial building will often require that a tenant have the landlord named as an additional insured on the tenant's insurance policies. [5]
Additional insureds usually reflect a business relationship between the policyholder and additional covered party. These types of arrangements most commonly appear on liability and commercial auto ...
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Independent agents own and control their accounts, policy records, and renewals. If an independent agent’s contract with a particular insurance company terminates, the agent retains the rights to active accounts and may place them with another insurer. Competition exists between exclusive agents and independent agents.
In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".
ACE Names Juan Andrade to Additional Role of Chief Operating Officer of Its ACE Overseas General International Insurance Business NEW YORK--(BUSINESS WIRE)-- The ACE Group announced today that ...
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Although your home’s structure is likely covered by your landlord’s insurance, you may need a renters policy, or HO-4 insurance, to cover your personal belongings, liability and additional ...