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Often, independent insurance agents will work with insurance intermediaries, who obtain quotes from multiple insurance providers and pass them off to the independent agent. Working with an insurance intermediary service allows the independent agent to review many quotes and offer their clients the best policy options available.
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".
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
Insurance Brokers vs. Insurance Agents. broker in insurance. There are two types of insurance agents, and both work slightly differently than insurance brokers. Captive agents are professionals ...
Ask your agent which type of life insurance, term or permanent, best suits your needs. Confirm with your agent if your policy offers living benefits, like access to cash value or critical illness ...
An insurance agent's main job is to sell you an insurance policy, not necessarily give comprehensive financial advice. A financial advisor who's also a licensed insurance agent, on the other hand ...
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