D: Law of agency

Descripción

CII - Level 4 Diploma (C3: Legal concepts and considerations relevant) R01 - Financial services, regulation, and ethics Fichas sobre D: Law of agency, creado por Mark Varela el 27/03/2014.
Mark Varela
Fichas por Mark Varela, actualizado hace más de 1 año
Mark Varela
Creado por Mark Varela hace más de 10 años
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Resumen del Recurso

Pregunta Respuesta
Contract - agent agrees to act on behalf of the principal IFA is agent of client & owes duty of care
IFA owes no duty to insurer but must comply with FCA rules Client is responsible for acts of the IFA
If material fact disclosed to IFA but IFA does not disclose to insurer - non-disclosure, contract void Insurance companies not responsible for acts of IFA
Employee/self-employed rep of insurer is agent of insurer Insurer is responsible for agent's acts and omissions
Agent does not pass on material fact disclosed by client - no non-disclosure, contract valid Agent owes d.o.c to insurer. Must comply with FCA rules. Insurer responsible for non-compliance
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