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Advanced Skills for the Insurance Broker and Agent

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Advanced Skills for the Insurance Broker and Agent Questions and Answers

Questions 1

What is the purpose of a letter of authorization?

Options:

A.  

Acts as express written permission for the broker to bind any policies on behalf of the insurer

B.  

Confirms the exclusive business agreement between the intermediary and the insurance company

C.  

Permits an insured to nominate a legal representative to speak and transact business on her behalf

D.  

Directs the underwriter to deal with the broker named in the letter on the particular client's account