AGENT AND REALTOR
In General, marketing insurance held through representatives of insurance companies which are known as agents. Insurance agent is anyone who is delegated by the insurance company to search, create, modify, or terminate insurance contracts between the insurance companies with the public. Also involved in the process of marketing insurance is an insurance broker. The insurance broker is someone who a consideration of finding and negotiating a contract of insurance for a man in the responsibility not of the insurance company. This is the most important difference between the agent with a REALTOR.
There are two chapters in the book of the laws governing Commerce Law about Realtor i.e. Article 260 and 261. Article 260 reads: If the account is closed through the intercession of a Realtor, then the policy has been signed must be submitted within eight days after the closing of the agreement. Article 261 reads: If Spacey in matters specified in the second section, then the insurer or broker is obligated to indemnify the insured arising out of the negligence of it.
The Creation Of An Agency Relationship
An agency relationship can be created between the principals with the agent over a mutual agreement. This deal is usually through a written agreement known as the insurance contract. Most insurance agency relationship is based upon a firm agreement. However, this may also be a mutual agreement is reached after a transaction occurred only with the approval of the actions of one party by the other party resulting in what is known as the Agency with retifikasi. For example, if to David Klock appears that Gary Eldred act as agents of the Antique Car Insurance Company and take the insurance contract for his car, so if the Antique Car Insurance Company to know these facts, it can authorize action Gary expressly or tacitly by a deed containing the approval or ratification. The influence of this ratification is the creation of a legal contract that binds all parties.
Authorized Agent
The authority of an agent mainly lies in the authority given to him by contract Agency. However, his authority to bind the principal speeding this contractual authority.
Insurance agents have three kinds of first authority is the authority that is expressly stated in the contract with its principals which in this case is insurance companies. The second is the implied authority. According to the law, agents obtained a proper authority are considered public. Rule of law stated that the public cannot be required to know or investigate the terms of any agreement to an agent has the authority to a certain course of action, then something as far as concerns the law, the Agency has the authority to it.
Example, it is feasible for the public to consider a life insurance agent has the authority to receive the first premium together with the application. Therefore, if an insurance company because something reason not firm-firm empower an agent to receive the first premium, then that agent obtain the authority through the doctrine of implied authority.
Thirdly, the agent has the authority observation i.e. Authority has implemented an agent that's what silenced only by a company means the insurance company that failed to prohibit acts of the agent. For example, suppose the dealer Hacktman has been banned by his company to take car insurance for drivers under 25 years of age. However, the Agency also took the Hacktman policy to a new level of two students was 20 years old. The insurance company receives the premiums. With these actions, the insurance company the agent of the action and silence means condone his authority to sell the policy.
