RMIN 4000 UGA- Brown- exam 2 (chapter 5 only) Questions and Answers New (2024/2025) Solved 100% Correct
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Course
RMIN 4000 UGA- Brown
Institution
RMIN 4000 UGA- Brown
distribution- independent agency - usually represents several unrelated insurers
agents are paid a commission which varies by the line of insurance
the agency owns the expirations or renewal rights to the business
agents may be authorized to adjust small claims and may provide loss control servi...
distribution- independent agency - usually represents several unrelated insurers
agents are paid a commission which varies by the line of insurance
the agency owns the expirations or renewal rights to the business
agents may be authorized to adjust small claims and may provide loss control services to their insurers
large brokerage firms - very important in commercial P&C coverage
may have knowledge of highly specialized insurance markets
may provide risk management and loss control services
insurance blinders - provide temporary insurance until the policy is actually written, can typically
be provided by property and casualty (P&C) agents, life insurance agents usually have no authority to
issue blinders
direct writer - an insurer in which the salesperson is an employee of the insurer, not an
independent contractor
employees are usually compensated on a "salary plus" arrangement
jake from statefarm type deal
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