InsuranceIdentity theft insurance Punitive damages Severity reduction Accelerated death benefit Tortfeasor Pro-rata clause
Agent
Insurance is a financial product that is sold through two types of agents: independent agents and exclusive agents. Independent agents work for themselves and represent multiple insurance companies. They are paid based on commission. On the other hand, exclusive agents only represent one insurance company and are either salaried or work on commission. These types of agents are also known as captive agents. Insurance companies that use exclusive agents are referred to as direct writers.
Related terms
Understand the meaning and definition of Identity theft insurance in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Punitive damages in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Severity reduction in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Accelerated death benefit in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Tortfeasor in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Pro-rata clause in the context of stock market, trading, and investments.
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