Skip to main content
Insurance

Bind

An important concept in property and liability insurance is the authority given to agents to accept offers from potential insured individuals without consulting the insurer. This is known as binding the insurer. It is a crucial responsibility for agents, as they must accurately assess risks and make decisions on behalf of the insurer. This authority is a reflection of the trust placed in agents by insurance companies, and it highlights the importance of their expertise in the insurance industry.

Related terms

Binder

Understand the meaning and definition of Binder in the context of stock market, trading, and investments.

MORE
Blanket coverage

Understand the meaning and definition of Blanket coverage in the context of stock market, trading, and investments.

MORE
Arson

Understand the meaning and definition of Arson in the context of stock market, trading, and investments.

MORE
Increasing term

Understand the meaning and definition of Increasing term in the context of stock market, trading, and investments.

MORE
Re-entry Option

Understand the meaning and definition of Re-entry Option in the context of stock market, trading, and investments.

MORE
After Tax Rupees

Understand the meaning and definition of After Tax Rupees in the context of stock market, trading, and investments.

MORE

Open Free Demat Account!

Join our 3.8 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
10 Cr+DOWNLOADS

Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Scan this QR code to download the app
Get it on Google PlayDownload on the App Store

Open Free Demat Account!

Join our 3.8 Cr+ happy customers
+91