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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".
Competition exists between exclusive agents and independent agents. Exclusive agents, who are salaried employees of the insurance company, write a majority of the personal lines business. [8] However, because of the complexities involved in commercial risks, independent agents capture approximately 80 percent of the commercial lines market. [9]
An average adjuster is a marine claims specialist responsible for adjusting and providing the general average statement. An Average Adjuster in North America is a 'member of the association of Average Adjusters' To ensure the fairness of the adjustment a General Average adjuster is appointed by the shipowner and paid by the insurer.
The U.S. Food and Drug Administration (FDA) announced a ban this week on red dye No. 3, or erythrosine, from foods and oral medications due to a potential cancer risk.. Food manufacturers have ...
3. Broccolini. Just when you thought we were finished with the “broc“ family, here comes more! Yes, there’s a real difference between broccolini, broccoli rabe, and broccolini — and ...
The two legal filings are a sign that the Pac-12 and its five new members do not intend to pay the penalty and exit fees, which, combined, totals $150-250 million.
Texas Pacifico Transportation Ltd. (reporting mark TXPF) is a Class III railroad operating company in West Texas owned by Grupo México. [ 3 ] [ 4 ] The company operates over the South Orient Rail Line under a lease and operating agreement with the Texas Department of Transportation and Texas Pacifico Transportation, Ltd.
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