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In 1957 the General Insurance Council (a wing of the Insurance Association of India) was formed, framing a code of conduct for fairness and sound business practice. Eleven years later, the Insurance Act was amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee was established.
If the agent receives a fixed fee, the agent may nonetheless act in a manner that is inconsistent with the principal's interests. The agent may adopt this strategy if they believe the negotiation is a one-shot game. The agent may adopt a different strategy if they account for reputational consequences of acting against the principal's interests.
The term "underwriting" derives from the Lloyd's of London insurance market. Financial backers (or risk takers), who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Allamanda Voyages travel agency in Paris Travel agency in Rio de Janeiro, Brazil Travel agency in Taiwan. A travel agency is a private retailer or public service that provides travel and tourism-related services to the general public on behalf of accommodation or travel suppliers to offer different kinds of travelling packages for each destination.
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods).
(a) The attorney in fact or agent shall maintain records of each action taken or decision made by the attorney in fact or agent. (b) The attorney in fact or agent shall maintain all records until delivered to the principal, released by the principal, or discharged by a court. Sec. 751.104. Accounting. [TPC §489B(d), (e)]
A freight broker is an intermediary between a shipper and a freight service provider. Freight brokers can specialize in certain types of freight, such as equipment hauling on lowboys, oversize, bulk tanker, auto, or other types of freight transportation.
Vehicle insurance in the United States (also known as car insurance or auto insurance) is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage. Most states require a motor vehicle owner to carry some ...