RIGHTS AND DUTIES OF INSURANCE AGENTS Despite the extensive use of direct-sales methods like

Both the principal and the agent have duties. The duties of the principal include compensation, reimbursement and indemnification, cooperation, and safe working conditions. The duties of the agent include loyalty, performance, notification, obedience, and accounting.

In Maryland, insurance policies are generally construed in the same manner as contracts. Collier v. MD-Individual Practice Ass 'n, Inc., 327 Md. 1, 5, 607 A.2d 537 (1992). An insurance contract, like any other contract, is measured by its terms unless a statute, a regulation, or public policy is violated thereby. Pac. Indem. Co. v. Interstate Fire & Cas. Co., 302 Md. 383, 388, 488 A.2d 486 (1985). We do not follow the rule, adopted in other jurisdictions, that an insurance policy is to be construed most strongly against the insurer. Collier, 327 Md. at 5; Cheney, 315 Md. at 766. We construe the instrument as a whole in order to determine the parties’ intent. Pac. Indem., 302 Md. at 388; Collier, 327 Md. at 5; Aragona v. St. Paul Fire & Marine Ins. Co., 281 Md. 371, 375, 378 A.2d 1346 (1977). In order to determine the intention of the parties, “Maryland courts should examine the character of the contract, its purpose, and the facts and circumstances of the parties at the time of execution.” Pac. Indem., 302 Md. at 388 (citations omitted). In doing so, we give the words their usual, ordinary, and accepted meanings. Id.; Mut. Fire Ins. Co. v. Ackerman, 162 Md. App. 1, 5, 872 A.2d 110 (2005) (citing Nationwide Mut. Ins. Co. v. Scherr, 101 Md. App. 690, 695, 647 A.2d 1297 (1994)). The test is what meaning a reasonably prudent layperson would attach to the term. Pac. Indem., 302 Md. at 388.

David A. Goldmeier and Terry C. Goldmeier v. Allstate Insurance Company 337 F.3d 629 (6th Cir 2003) case supports our

“The agency relationship is defined as ‘the fiduciary relationship which results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his contract, and consent by the other so to act.’ Agents obligations relating to their players are defind not only by contact, but by the fiduciary characteristics of the relationship.” The agent owes his/her player a lot of things in their basic care to their player. These things include the fiduciary duty of undivided loyalty and the duty to act in good faith at all times. The player is going to entrust this agent with all of their fortune, reputation, and legal rights and responsibilities. Along with all of these duties the agent is going to have to abide by what the player wants and carry out what their desire are. This is a responsibility of the agent and it must only do what is desired by and for the player and must not carry out its own business affairs. “The agent must obey all of his/her players’ lawful instruction no matter how arbitrary or capricious any of those instructions seem to the agent or anyone else. However, if the player instructs the agent to perform something illegal, like bribe someone, the agent does not have to comply.”

“An insurance company has a duty to act in good faith in settling claims and a breach of that duty will give rise to a cause of action by the insured. That duty, however, runs only from the insurer to the insured, not to third parties.” Id. at page 5.

Insurances The contract allows either the contractor or the owner to insure. Provision is also made for one party to take out and maintain the insurance where the nominated party fails to do so or fails to provide acceptable evidence that the insurance in is place

business of insurance. But the lack of uniformity, loop holes, blind spots and deficiencies within

Interfaced with insurance carrier websites and claim clearinghouses for verifying eligibility filing electronic claims and to follow up on claims filed.

In 2007, CNN investigative reporters did an expose on how insurance companies handle “minor” accident claims, revealing exactly how it affects consumers. In this article, we are revisiting that report to reveal how it affects our clients.

Insurers, insureds, and even their attorneys frequently incorrectly assume that insurance agents and brokers owe fiduciary duties to their insureds. While the law is not completely clear regarding the applicability of agency principles and their fiduciary duties in this area, legal precedent can offer some guidance on the issue.

Frequently the media depicts insurance fraud to be most commonly committed by individuals who invest in the insurance firms for promising protection and

"[a]n insurance company has a duty to act in good faith in settling claims and a breach of that duty will give rise to a cause of action by the insured." Pasipanki v. Morton, 61 Ohio App. 3d 184, 185, 572 N.E.2d 234 (1990) (quoting Bean v. Metro. Prop. & Liab. Ins. Co., 9th Dist. No. 13543, 1988 Ohio App. LEXIS 4275, 1988 WL 114464 at *1 (Oct. 26, 1988)). Gekko did not act in good faith to settle Vic’s claim against Donna, and their failure to do so enables Donna has a cause of action against Gekko.

Recently, insurers introduced online insurance policies. This got a wide spread acceptance from many clients in that it is quick, easy and convenient. It is also cheaper in that a person doesn’t have to travel

Insurance is a federal subject in India. It is a subject matter of solicitation. The legislations that deal with insurance business in India are Insurance Act, 1938 and Insurance Regulatory & Development Authority Act (IRDA), 1999. Insurance is defined as is a form of risk management primarily used to hedge against unforeseen risks of contingent losses. Another approach to Insurance is as the equitable transfer of risks, or the possibility of occurrence of losses, from one entity to another, by the method of diversification in exchange for a premium. An Insurer is a company designing, promoting and selling insurance products and services amongst the public. An insured or policyholder is the person or entity purchasing these products and services.

Changes in tax laws, government benefit programs, and other State and Federal regulations can affect the insurance needs of clients and how agents conduct business (Abraham & Herman, 1998). Courses in psychology, sociology, and public speaking can prove useful in improving sales techniques (Abraham & Herman, 1998). The use of computers to provide instantaneous information on a wide variety of financial products has greatly improved agents’ and brokers’ efficiency and enabled them to devote more time to clients’ needs (Abraham & Herman, 1998).