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The majority of insurance companies will not disclose information or discuss an insured party's account with an agent other than the agent of record. An insured party wishing to change insurance agent (s) must submit a revised agent of record letter [ 1 ] to the respective insurer authorizing said insurer to release the insured party's ...
Founded in 2005, Agents For Change is a grassroots trade association of over 8,500 insurance agents and brokers from across all lines of insurance working together to enact an optional federal charter to allow producers the option of being regulated at either the federal or state level. Members of Agents for Change participate in policy ...
In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims. When all the claims are paid, the attorney-in-fact then returns the leftover funds to the subscribers.
Between home insurance companies going insolvent, limiting their risk or leaving the state altogether, Florida has lost over 30 insurance providers — or some form of coverage from these ...
A letter is regarded as "posted" only when it is in the possession of the Post Office; this was established in the case of Re London & Northern Bank [1900] 1 Ch 220. A letter of acceptance is not considered "posted" if it is handed to an agent to deliver, such as a courier. This is not the case under the Uniform Commercial Code.
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An agency agreement is a legal contract creating a fiduciary relationship whereby the first party ("the principal") agrees that the actions of a second party ("the agent") binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.
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