General Insurance
What is an agent's express authority?
Answer and explanation
Answer: B. Express authority is what the insurer has actually granted in the agency contract. Implied authority is what is reasonably necessary to exercise express authority, and apparent authority arises from what the insurer's conduct leads the public reasonably to believe.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, express authority
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621 New York questions like this one.
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