One of several examples of contracts designed to to demonstrate the variety of ways in which agencies and producers put their agreements into writing.
The following questions and answers deal with issues pertaining to those who hold the Customer Representative (CR) license or the Limited Customer Representative license.
Two of the most important elements that must be present in the insurance mechanism are indemnity and insurable interest.
Some insurance companies secure their business through intermediaries such as agents and brokers; others secure production through their own employees. The former are known as agency companies, the latter as direct writers. Some companies operate both ways.
The independent agency system produces insurance of all types, usually through personal relationships. Most independent agents are concerned with production in the property and casualty field, but many produce a significant volume of health and benefits business.
One of the principal advantages of insuring through the independent agency system is that the agent has the ability to pick and choose those companies to represent that he feels will satisfy his insured’s needs in promptness and fairness of claim settlements.
A positive approach toward underwriting requires effective, ongoing communication between agents and field staff. Often, the "no" associated with some underwriting attitudes can be directly attributed to an absence of communication.