The agent is an agent of the company who has him under contract. It is
his responsibility to bring good risks (those to be insured) to the
company (the insureor).
Richard
>
>
> Incidentally, does anyone know what party an insurance agent is an
>agent
>for? The laws of agency have been developed by years and years of
>common
>law and case history. If an insurance "agent" is indeed an agent,
>they owe
>certain feduciary duties (care, confidentiality, loyalty, obedience,
>accounting, disclosure) to their principal. Who is the principal for
>an
>insurance agent? The person buying insurance or the insurance
>company?
>>From what I've seen, I would have to bet on the latter. If they are
>indeed
>supposed to be an agent for the insured, they appear to be sadly
>lacking.
>Anyone know for sure?
>
>
> -Jon-
>
> .--- stei0302@cs.fredonia.edu --
>http://www.cs.fredonia.edu/~stei0302/ ---.
> | DoD# 1038, EAA# 518210, NMA# 117376, USUA# A46209, KotWitDoDFAQ,
>RP-SEL |
> | '96 Dodge Dakota v8 SLT Club Cab, '96 Kolb FireFly 447
>(#FF019) |
>
>`-------------------------------------------------------------------------'
> I do not speak for the SUNY College at Fredonia; any opinions are
>my own.
>
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