Parts of a policydiced - Study guides, Class notes & Summaries
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Property And Casualty NY License Study Summary
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Property And Casualty NY License Study Summary 
 
Broker - acts on behalf of insured in negotiating insurance. they work for clients. have no binding authority- can't put risk in place 
 
Agent - acts on behalf of insurance company with whom they are contracted. signs contract. never work for clients only company. 
 
Agents binding authority 3 sources - Expressed- actual written agency contract 
Apparent- companies supplied signs, business cards, etc. 
Implied- accepting premiums after cancella...
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