D: Law of agency | Karteikarten

Karteikarten von Mark Varela, erstellt am more than 1 year ago

CII - Level 4 Diploma R01 - Financial services, regulation, and ethics (C3: Legal concepts and considerations relevant) Karteikarten am D: Law of agency, erstellt von Mark Varela am 27/03/2014.

	Erstellt von Mark Varela vor mehr als 10 Jahre

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Contract - agent agrees to act on behalf of the principal

IFA owes no duty to insurer
but must comply with FCA rules

If material fact disclosed to IFA but IFA does not disclose to insurer - non-disclosure, contract void

Employee/self-employed rep of insurer is agent of insurer

Agent does not pass on material fact disclosed by client - no non-disclosure, contract valid