1 2 3 4 5 7 8 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A. A/ A1 A2 A3 A4 A5 A6 A7 A8 A9 Aa Ab Ac Ad Ae Af Ag Ah Ai Aj Ak Al Am An Ao Ap Aq Ar As At Au Av Aw Ax
Aga Age Agg Agi Ago Agr

Agency agreement

Contract between a principal and an agent that explains the scope of the insurance agent’s authority. See agent.

****

The steamship line appoints the steamship agent and defines the specific duties and areas of responsibility of that Agent.

 

Agency Billing

In an agency billed policy, the insurance agency bills the insured for the policy issued by the Insurance Company or Brokerage. We act as the middleman in this financial transaction, collecting the entire premium (gross premium) from the insured, our client, and passing on the premium reduced by our commission (net premium) to the Insurance or Brokerage Company.

Agency by ratification

When the insurance company accepts the actions of an agent, this ratifies the act, making the company liable for consequences that may occur. For example, the insurance company is liable when they accept a premium on a policy the agent should not have sold.

Agency Companies

Agency companies are those insurance companies who sell through independent agents. While companies such as State Farm and Allstate technically sell through independently contracted agents, the term is commonly used for independent agents who represent a number of insurance companies.Independent agents do not have an exclusive relationship with any one insurance company. Thus, companies who sell through independents are aware that the agent represents other companies. Well-known agency companies include the Travelers, the Hartford, AIG, and Chubb.Some insurance companies operate with exclusive agents and independent agents. For example, Allstate uses exclusive agents in urban areas and independent agents in rural areas in some parts of the country. Farmers Insurance uses exclusive agents in some states (Texas for example) and independent agents in other states (Louisiana for example). (See Agent).

Agency for Healthcare Research and Quality (AHRQ)

Formerly Agency for Health Care Policy and Research (AHCPR), which is part of the U.S. Department of Health and Human Services. It is the lead agency charged with supporting research designed to improve the quality of health care, reduce its cost, and broaden access to essential services. AHRQ’s broad programs of research bring practical, science-based information to medical practitioners and to consumers and other health care purchasers. AHRQ’s mission is to improve the quality, safety, efficiency, and effectiveness of health care for all Americans.