Risk Indian Chapter 3

A person made the following statement which is incorrect? Statement A Agents serve as representatives of the insurance companies and sell policies on behalf of the insurers. The insurer enters into a contractual agreement with the agent that specifies the types of products the agent may sell and the commission the insurer will pay for each. Statement B Agents serve as representatives of the insurance companies and sell policies on behalf of the insurers but there is no contractual agreement between insurer and agent that specifies the types of products the agent may sell and the commission the insurer will pay for each.

Which of the following correctly represents the features of Corporate agents?

The arrangement of selling an insurance product by the insurance company through a bank is known as:

Composite brokers refer to:

“—-are licensed to supply data relating to insurance products comparison of comparable products offered by different insurance companies and have linkages to websites of various insurers from where customers will choose and get policies on-line.

Point of sales person is not authorized to sell which of the following?

Responsibility of Surveyor and Loss Assessor:

Which of the following statement is least accurate?