Resident Agent


Definition of "Resident agent"

Melissa Thompson
Melissa Thompson Keller Williams Realty Cityside

Salesperson who markets and services insurance policies in the state in which he or she is domiciled.

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Popular Real Estate Terms

Nonresident Agent

Agent who is licensed and who markets and services insurance policies in a state in which he or she is not domiciled. ...

Loss And Loss Adjustment Expense Reserves

Amount of the insurance company's liabilities for claims that have not been settled. If this reserve increases significantly in relation to the compan ...

Business Automobile Policy (bap)

Coverage for automobiles used by a business when a liability judgment arises out of the use of the automobile, or the automobile is subject to damage ...

Back Load

Expenses taken out when benefits are paid. For example, a specific dollar amount is subtracted from a monthly income payment for company expenses. ...

Party

Individual or entity who enters into a contract or other legal proceeding, such as a lawsuit. ...

Equities

Representation of ownership rights such as stocks. ...

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