Licensing Of Agents And Brokers
Definition of "Licensing of agents and brokers"
Legal authority granting individuals the right to conduct insurance business in a particular state. In many states, agents and brokers must pass a written exam as a prerequisite to being licensed. In others, a professional designation such as the CLU or CPCU can be substituted for the examination requirement. The caliber of examinations varies from state to state. A license is usually issued for one or two year periods, and then must be renewed.
Popular Insurance Terms
To which the original investment sums build at a stipulated interest rate. ...
Compilation that reports the number of new incorporated and nonincorporated businesses started during a single week. ...
Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting expenses plus policy owner dividends. This income is generated from the insurance business ...
Written form which has precisely the same terms as the other property insurance policies covering a particular property. ...
Life insurance policy provision under which the policyholder may apply the accumulated cash value, in the form of a single premium payment, to pay up the policy or to mature the policy as ...
Possibility of loss associated with water transportation, including hull damage or destruction, cargo damage or destruction, liability to others for bodily injury, and property damage or ...
Annual meetings of insurance practitioners and academicians from throughout the world interested in exchanging ideas concerning the theory and applications of insurance. The meeting is held ...
Business liability for bodily injury or property damage resulting from operations of the business. Business firms can buy insurance for this risk with a variety of liability policies, ...
In automobile insurance, coverage providing protection in the event of physical damage to the insured's own automobile (other than that covered under comprehensive insurance) resulting from ...
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