NYS Insurance Licensing Exam Latest Graded A

NYS Insurance Licensing Exam Latest Graded A insurance transfers the risk of an loss for an individual or business to an insurance company which spreads out the costs to many individuals agency contract a contract that is held between insurer and an agent/producer containing the expressed authority given to the agent/producer, and the duties/responsibilities to the principal, any agent in violation of the agency contract may be held personally liable to the insurer agent legal representative of a an insurance company that acts for another person or entity known as the principal with regard to contractual arrangements beneficiary receives benefits from the insurance death benefit the amount paid when a claim is issued against policy of insurance insurance policy a contact b/w insured and insurance company that agrees to pay the insured in the event of unforseen events caused by specific events