Agency by ratification

Confirmation by an insurance company of the acts of its agent, regardless of whether or not these acts were committed within the limit of authority granted the agent by the company. By so ratifying the agent's acts, the company becomes responsi­ble for consequences arising from these acts. For example, if the insurance company, with full knowledge of the agent's misdeeds in soliciting the application and the premium from the prospect, accepts the premium for the policy from the agent, this acceptance constitutes ratification of the act of the agent.

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