Agency Law

• 30 Minutes
• For all staff
• UK

The law of agency governs the relationship in which an agent deals with a third party on behalf of a principal. This 30-minute course helps staff understand the nature of an agency relationship including rights, duties, authority and liabilities, identify the different types of agent, and understand the regulations that apply to agents operating in insurance.

Whose agent someone is at a given moment decides who bears the loss when something goes wrong, and in insurance that answer changes depending on the transaction. Firms discover the position during a dispute rather than before it. Grounding staff in agency principles protects the firm's position in placement and claims, and clarifies the authority actually being exercised.