7.1 Law of Agency and Meaning of Intermediaries

The agency's foundation (the Contract law's world): the principal-agent relation — the agent's authority to act for the principal; the principal's answer for the authorised acts (the vicarious liability of the tort course — LAW5505 U3.2). The insurance intermediaries: the persons between the insurer-and-the-public: the agent (the insurer's appointed seller — the company's- and-its-corporate faces); the broker (the client's representative — the insured's buyer-adviser: the licensing's distinction — whose side the intermediary stands); the surveyor-and-loss-assessor (the claims' independent investigator — the loss's measurer); the newer faces (the web- aggregators, the bancassurance — the bank's distribution).