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Encompass Insurance Company is a subsidiary of Allstate Corporation and is one of the largest personal property and casualty insurance brands sold through a network of more than 6,500 independent agent locations across the United States.
Allstate continued to sell additional types of insurance to customers throughout the decade, including worker's-compensation insurance in 1964, surety bonds in 1966, inland-marine coverage in 1967, and a business package policy in 1969.
The agent of record has a legal right to receive commissions from the respective insurance policy. The individual or legal entity is authorized to represent an insured party in purchasing, servicing, and maintaining insurance coverage with a designated insurer. The majority of insurance companies will not disclose information or discuss an ...
Learn more in our guide to full-coverage car insurance — and when you might skip it. Sources. Report Details Severe Credit Score Penalties in Auto Insurance, Consumer Federation of America ...
The car owner’s policy would be the primary insurance, while your own policy would be secondary. This might happen if their liability insurance has a low limit, or if there is damage to the car ...
Independent agents own and control their accounts, policy records, and renewals. If an independent agent’s contract with a particular insurance company terminates, the agent retains the rights to active accounts and may place them with another insurer. Competition exists between exclusive agents and independent agents.
Myth #2: Your red car will cost more to insure. One of the most persistent myths about auto insurance is that insurance companies charge more to insure red cars.
In insurance, a managing general agent is defined legally as "an individual or business entity appointed by an underwriting insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts on behalf of an insurer and, if authorized to do so by an insurer, to effectuate and countersign insurance contracts".