Private Firms and Persons Flashcards
1
Q
______is not necessarily the insured under the policy but is responsible for paying the policy’s premium and has various rights as specified in the contract.
A
The Owner
2
Q
_____is the person or entity that is covered by the Insurer, which covers losses due to loss of life, health, property, or liability.
A
The Insured
3
Q
_____are licensed individuals representing and appointed by an insurance company when transacting insurance business.
A
Insurance Producers
4
Q
_____are captive or independent organizations that recruit, contract with, train, and support insurance producers
A
Insurance Agencies
5
Q
_____ manufacture and sell insurance coverage in the form of insurance policies or contracts of insurance.
A
Insurance companies (known as Insurers or Carriers)
