Responsibilities Of The Principal
Insurance agent acts within the scope of that authority, outwardly implied and considered the action of the insurance companies that. The law looks at the Agency and action from the insurance companies that. The law looks at the agents and insurance companies that are one and the same. So, the insurance company is legally responsible for the actions of the statements his agent while he was carrying out his duties, even if the agent makes a statement that is unknown or not supported by insurance companies that.
Although the insurance company may limit the authority of the agent and the agent's binding restrictions, but the restrictions are not always binding third party. The third parties are entitled to trust the agency relationship is "normal". Therefore, the restrictions were "unfair" on the authority of an agent is not binding on third parties unless if delivered effectively to them. What is known of agents presumed known by insurance companies. So, if an insurance agent know that health insurance applicants is very critical due to the use of narcotics that extravagance, this knowledge is considered known also by the insurance company even though this formation was not delivered by the agent to the insurance company.
Realtor Agent
The situation might be different if the insurance was purchased through an insurance broker. An important difference is that insurance agents typically have the authority to bind against the insurance company that he had made a contract with a party in responsibility. A REALTOR has no such authority. REALTOR regarded as agents of the parties on responsibility and therefore can only bind the parties in responsibility against his contract with an insurance company. Moreover, because of the a broker is an agent of a party in the responsibility, the knowledge broker is just the knowledge itself and in the responsibility, knowledge and not the insurance companies. The insurance company could not be considered to be in the know know what Realtor, unless it has a Realtor tell him.
Different from the payment to the agent, the payment to the REALTOR is not payments to the insurance company unless there is provision to the contrary.
The COMPLETION of the
The ways of settlement of disputes concerning the rights and obligations of the parties and of the insurance contract has been developed by the President's legal statutes. This settlement can be classified into a legal settlement (according to law) and equitable settlement (according to propriety, propriety). the doctrine of waiver and estoppel was an important settlement way according to customary law (common law) reformation and rescission is the important settlement according to the propriety or decency. the doctrine of waiver and estoppel is closely related to the issue of authorized insurance agents. The term waiver formulated by the Court of appeals of New York as "the delivery or removal of willing something right or advantage by one party". This means that if insurance companies allow certain actions than in the responsibility, then he must bind himself with his approval of it.
The same Court defines as estoppel doctrine. That one party can be detached his right because of the acts or the acts detrimental to an other party entitled to trust that action, and have acted upon it. "nontechnical terms this means that if an insurance company has incurred a lull (insured) to a secure feeling, or have led him to believe that he can do certain things which are prohibited by the insurance contract itself or let certain things that are required by the policy, the insurance company then it can not use the deed covered it as a reason to avoid the contract.
The issue of waiver and estoppel occurs in many matters concerning the relations of agents with policyholders. Sometimes a prospective purchaser policy convey something of the circumstances that seem to violate the policy. For example, prospective homeowners insurance insurance agents and told that he is aiming at the making of fireworks in a small degree on the lower floors of his home agent told prospective insurance cover does not need to worry because the manufacture of fireworks in the petty does nothing for insurance companies; or the goods dealer it is not time to say anything and the path continues to issue the policy and charge a premium.
