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Originally named Agent Company Operations Research and Development (ACORD), the organization's initial goal was to standardize the many proprietary forms being used by carriers for new business and claims submission. [2] In the late 1970s, ACORD began developing electronic standards to complement its form standards.
An agent of record (AOR) is an individual or legal entity with a duly executed contractual agreement with an insurance policy owner in line with the prevailing legal norms and regulations of the region in which the contract was entered. The agent of record has a legal right to receive commissions from the respective insurance policy.
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Insurance may also be purchased through an agent. A tied agent, working exclusively with one insurer, represents the insurance company from whom the policyholder buys (while a free agent sells policies of various insurance companies). Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict.
On Aug. 17, the rules governing real estate agent commissions are changing. Some experts say the shift should eventually reduce costs for consumers.
A new president, a strong economy and tons of innovation: How those and other forces might change economic, tax and financial situations in 2025. A new president, a strong economy and tons of ...
Aaron Rodgers, at least for now, is still the New York Jets’ starting quarterback. Rodgers, despite the Jets’ struggles and his apparent injuries in recent weeks, will "absolutely" be the team ...
A - Process Agent Service [clarification needed] is a United States federal filing that designates legal agents upon which process may be served.It pertains mostly to individuals or companies in the transportation and logistics industry, and it is often required before certain federal operating authorities can be granted within the United States.
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