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A person who acts on behalf of an insurance company in the solicitation of an insurance contract is known as?
Agent
What agent receives funds on behalf of someone else?
The name of an agent that recieves funds on behalf of someone else to handle financial decisions and act on another persons behalf is commonly known as Power Of Attorney.
Can your car insurance agent register your car?
No; the Registry of motor vehicles or DMV or whatever the particular entity is.
What are the relevance of brokers in insurance?
An insurance broker is a person or entity that is licensed by one or more state departments of insurance to sell insurance. This is similar to an insurance agent. The main difference between a broker and an agent is this: a broker is authorized by a number of insurers to submit applications for insurance by the broker's customers. Stated otherwise, a broker works on behalf of the customer, and seeks to obtain coverage for him/her/it from the insurers represented by the broker. In contrast, an insurance agent often represents a single insurer and sells only that insurer's products. Both are governed by the insurance laws of the state(s) of licensure, and are required to meet educational requirements to obtain and maintain their licenses.
Who is registered agent for Wells Fargo in wiSCONSIN?
The registered agent for Wells Fargo in Wisconsin is typically a designated individual or business entity responsible for receiving legal documents on behalf of the corporation. To find the most current and specific information about Wells Fargo's registered agent in Wisconsin, it is best to check the Wisconsin Department of Financial Institutions or the company's official filings.
What is the term for the entity that an agent represents regarding contractual agreements with third parties?
The term for the entity that an agent represents in contractual agreements with third parties is called the "principal." The agent acts on behalf of the principal, carrying out tasks and making decisions within the scope of authority granted by the principal. This relationship is foundational in agency law, where the agent owes fiduciary duties to the principal.
What is the implied authority of an insurance agent?
An insurance agent is called the First Underwriter,as they are the first persons who intereact with the prospects, examine their financial standings,past medical histories,family backgrounds,which are considered very important aspect. Those club member agents are authorised to take delivery policy bonds and other important documents from the insurance cos on behalf of the policy holders. They are also authorised to attest signatures of policy holders in various documents, acceptable to the insurance co.
What is the difference between a trustee and an agent on a trust?
A trustee is the person who takes care of all the properties of the trust for the benefit of the beneficiaries. An agent on a trust is a third party that takes care of the trust on behalf of the beneficiaries.
What kind of education does one need to be an insurance agent?
You can obtain license 7 to sell insurance. In addition, it is recommended that you have a financial degree or a MBA.
Can a poa change the name on a life insurance policy before death?
A power of attorney (POA) generally allows an agent to manage financial matters on behalf of the principal, but the ability to change the name on a life insurance policy depends on the specific terms of the policy and the authority granted by the POA. If the policy permits changes and the POA explicitly includes the authority to make such changes, then the agent can proceed. However, any modifications should be made with caution and in compliance with the insurance company's requirements. It's advisable to consult with a legal or financial professional to ensure proper handling.
Who is Registered Agent for Chase Bank in Wisconsin?
The registered agent for Chase Bank in Wisconsin is typically a designated individual or business entity responsible for receiving legal documents on behalf of the bank. As of my last update, specific information about registered agents can change, so it's best to consult the Wisconsin Department of Financial Institutions or Chase Bank’s official website for the most current details.
Why insurance agent should give identity theft protection service?
An insurance agent may consider recommending such a service to a client as part of a larger financial protection package. Such a service, however, is generally not deemed to be an insurance product unless it is formulated to indemnify the insured for the false use of personal information for which he or she sustains a financial loss.
