LAW Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

KAULAGI NAGARAJA (ADVISOR)     21 July 2013

Policy

Can an agent issue policies on behalf of the company for which he is working, on oral authorsation?



 8 Replies

Prashant Agnihotri (Lawyer)     01 August 2013

plz provide more detail to get answer for your query

2BHelpfull (Other)     02 August 2013

resolution must have been passed in the board meeting/AGM .

and that too memorandum must authorise such appointment of agent through such meeting.

 

information given in query is not sufficent ,  

kindly tell ...

1.type of company.

2.business of the company .

 

KAULAGI NAGARAJA (ADVISOR)     05 August 2013

Thanks.  A GENERAL INSURANCE company wants its agents to use their portal and issue motor policies.  This it does without giving them a formal letter of authority.   The  agent asks  for an authority letter.  The company is hesitant to issue a letter.    Will it be in order for the agent to issue policies without an authority letter under the seal of the company?

2BHelpfull (Other)     06 August 2013

insurance company has power to appoint Agent in its memorandum n article.

 

but then also authority letter is needed by the agent .(letter of appointment as an agent is must otherwise u cannot issue policy )

 

is there any communication proof in writing, telling u that u can issue the policy.??

binay (advocate)     06 August 2013

no, an agent is not got that right to issue policies on behalf of the company for which he is working. he/she cant.


(Guest)

agree with the experts.. insurance company doesn't authorised agent to issue the policy but only book the policy.

V Kumar (Asipiring L)     13 August 2013

Hi, I am new to the site, so please bear with me - do you know what to do if an insurance firm is refusing to pay up claim amoun - They have no basis as per my beliefs and record.

 

Thanks alot for the help already

V Kumar (Asipiring L)     13 August 2013

Also forgot to answer ur question - agents cant issue policy stricly, but he is most likely following a lead generation plan wherein he will pass on the lead to an authorised agent of the company. You are better of going with an authorized agent in the first place anyways...

Regards


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion Unreplied Threads

LCI Learning Hindu Laws


Popular Discussion


view more »




Post a Suggestion for LCI Team
Post a Legal Query