Insurance Agents

Insurance agent to mean ‘a person who does all or any of the following:

a.solicit or obtains a proposal for insurance on behalf an insurer;
b.offers or assumes to act on behalf of an insurer in negotiating a policy or
c.does any other act on behalf of an insurer in relation to the insurance ,renewal or continuance of a policy’.

Depending on the terms of the agency agreement,an insurance agent may be authorized to solicit insurance business,a collect premiums an issue covernotes on behalf of the insurance company.Insurance agent are remunerated through payment of commission by the insurers.