Apparent authority is a legal concept pursuant to which an agent can be found to have bound a principal (master) despite not having the actual authority to do so. If the principal gives to the agent certain indicia of authority (for example, business cards, a title, etc) that would lead a reasonable person to believe that the agent has the authority to bind the principal, and the principal did nothing to countermand it, the principal may be bound by the acts of the agent.
This theory, put into the context of an insurer/insurance agent, is what is meant by the term.
You don't have all the elements necessary to acquire an enforceable contract. "Apparent" authority doesn't count.
the agent is under the authority of the principal, or insurance carrier, and has the ability to make decisions as a representative of the carrier. Therefore, the principal can be held legally liable for the agent's business
A Managing General Agent is a special type of insurance broker that is given underwriting authority from an insurer.
In accidental authority the agent take an important decision at the time of series risk which is not written in the actual authourity
Apparent Authority
An insurance agent has a contract with an insurance company which specifies his rights; but basically an agent has a right to be paid a commission for the insurance that he or she sells.
An insurance agent is responsible for the sales of the company's insurance products/services. An agent is generally considered to be the agent of the insurer, whereas a broker is generally considered to be a representative of the insured. That is, the agent is more closely bound to the insurer that it represents, whereas a broker usually represents many insurers and shops for an insured. That said, there is becoming less of a distinction between the two. An agent also often gets involved in assisting the insurer with submitting covered claims to the insurer for payment. An agent has a fiduciary duty to the insured (a duty of trust and to act in good faith). An agent is licensed and regulated by the insurance regulatory authority of the state(s) in which he/she transacts business.
To become an insurance agent, most companies require an agent to have a college education. You will also have to be licensed with your state. You can read more at http://www.insureme.com/insurance-agent/becoming-an-insurance-agent.
The agent represents the insurance company, not the customer who is buying the insurance.
A multi line insurance agent is an agent who not only can provide insurance for you in a certain field, but multiple fields. For example: if you have an insurance license for Life & Health in a certain state but not Property & Casualty, you will only be able to write business for Life & Health in that state. If you have all lines of authority, you can legally write business under any line such as Property & Casualty, Life & Health, and Surplus Lines. Agents must hold the same lines of authority in her or her resident state that they are applying for in any other (non-resident) state.
That would be best answered by an insurance agent. Contact your local insurance agent.
A life insurance agent is the person who knows about the various life insurance policies and explains them to potential clients. The agent is the person who sells you life insurance.