Intermediaries and the Agency System

Hugh Cockerell

Chapter 14 in A Guide to Insurance Management, 1990, pp 228-244 from Palgrave Macmillan

Abstract: Abstract Intermediaries play a prominent, often a dominant, part in insurance. They fall into two main categories: those appointed by insurers to sell and service insurance contracts on their behalf, and those used by the buyers of insurance to help them obtain cover. Insurers describe all intermediaries as ‘agents’, but the law distinguishes the two categories: it regards those in the first category as agents of the insurers and those in the second as agents of the insured. This distinction has important legal consequences.

Keywords: Financial Service; Agency System; Life Insurance; General Agent; Commission Rate (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-07495-2_14

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DOI: 10.1007/978-1-349-07495-2_14

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