Parts of a policydiced - Study guides, Class notes & Summaries

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Property And Casualty NY License Study Summary
  • Property And Casualty NY License Study Summary

  • Exam (elaborations) • 8 pages • 2024
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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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