InsuranceLack of privity Accumulation Period Vandalism Expected loss ratio Grace period clause Named insured
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 Lack of privity in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Accumulation Period in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Vandalism in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Expected loss ratio in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Grace period clause in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Named insured in the context of stock market, trading, and investments.
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