general agent

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general agent

A general agent reviews a new insurance policy with a client.

Definition

Noun: 1. An insurance salesperson: A person or company authorized to sell insurance policies on behalf of an insurance company. 2. A broadly authorized representative: A person granted the authority to conduct all types of business for the person or entity they represent (the principal).

Usage Examples
  • Insurance context:
    • We purchased our home insurance through a general agent who represents several major companies.
    • As a general agent, her job is to find the best policy for her clients' needs.
  • Business/legal context:
    • The CEO appointed her as a general agent, giving her the power to sign contracts and make financial decisions on the company's behalf.
    • A general agent has broader authority than a special agent, who is limited to a specific task.
Advanced Usage
  • Legal Distinction: In law, a "general agent" is contrasted with a "special agent." A general agent has continuous authority to act in a broad range of matters, while a special agent is authorized for a single transaction or a limited scope of duties.
  • Scope of Authority: The precise powers of a general agent are defined by an agreement with the principal. A third party can usually assume the general agent has the authority to perform acts common to the role.
Variants and Related Words
  • Agency (n): The relationship where a general agent acts for a principal.
    • He works for the firm in an agency capacity.
  • Special Agent (n): An agent with limited, specific authority.
    • A special agent was hired to negotiate the one-time deal.
Synonyms
  • Insurance agent: (Specifically for the insurance meaning)
  • Universal agent: (Emphasizes the broad, all-encompassing authority)
  • Representative: (A more general term)
Related Phrases
  • Fiduciary duty: A legal obligation of a general agent to act in the principal's best interest.
    • The general agent has a fiduciary duty to the principal.
  • Act within the scope of authority: To perform only those actions the principal has permitted.
    • The contract was void because the general agent did not act within the scope of authority.
general agent

A general agent reviews a new insurance policy with a client.

Noun
  1. an agent who sells insurance
  2. someone authorized to transact every kind of business for the principal

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