In many situations, an agent is able to exercise this authority, which secures coverage for an insured without any additional input from the insurer.Identify this authority.
A)Waiver authority
B)Estoppel authority
C)Duress authority
D)Binding authority
E)Facultative authority

Question

Quizplus · Accepted Answer

Binding authority allows an agent to secure coverage for an insured without further input from the insurer, effectively binding the insurer to the coverage terms the agent sets forth.

In Many Situations, an Agent Is Able to Exercise This