Common use of Authority of Agent Clause in Contracts

Authority of Agent. A. AGENT ACTIVITIES- The Manager hereby contracts with the Agent as an independent contractor and not as an employee of the Manager or any Company. The Agent agrees to transact insurance subject to requirements imposed by law, the terms of this Agreement, and underwriting rules and guidelines of the Company or Manager as they may exist and be communicated to the Agent from time to time. Within the scope of these requirements and guidelines, the Agent is authorized to solicit and service customers and potential customers at the times and places, and in the manner, chosen by the Agent in his or her sole discretion. The Agent is responsible for his or her own offices, overhead, employees, vendors, licensing, taxes, fees and other business operations and requirements, including the Agent’s expenses associated with the foregoing. In connection with the Agent’s role as an independent contractor, the Agent is authorized to: 1. Solicit, receive and transmit to the Company through the Manager, or otherwise as directed, proposals for insurance contracts for which a commission is specified in the attached Schedule A, in accordance with procedures communicated by the Manager from time to time; 2. Provide all usual and customary services of an insurance agent on all insurance contracts placed by the Agent; 3. Collect and receipt for premiums, except in the case of direct-billed premiums discussed in Section II.B. below. The Agent agrees to refund return commissions on policies upon cancellation, reductions, or other refunds or returns of premiums, in each case at the same rate as such commissions originally were paid by the Company. With respect to premiums to be collected by the Agent, the Agent shall collect and hold such premiums in a fiduciary capacity on behalf of the Company and shall be responsible for remitting such premiums to the Manager whether collected by the Agent or not; 4. Exercise his or her authority personally or through authorized employees, provided that as between the Agent and the Manager and the Company, the Agent shall be solely responsible for the acts, errors, and omissions of such employees or independent contractors; 5. Represent other insurance companies; 6. Exercise exclusive and independent control of Agent’s time, the conduct of Agent’s business, and the conduct and activity of Agent’s employees; When an insurance agent’s signature is required on any policy or related document, the Company or Manager has the authority to sign any such policy or document issued through the Agent by the mechanical or facsimile imprinting of an appropriate agent name thereon. It is understood and agreed that such imprint shall be effective as if an agent had personally endorsed it on the policy, and that the policy thereafter may be delivered or mailed directly to the policyholder. This procedure shall not reduce or alter the commissions otherwise due to the Agent under policies produced by the Agent, nor shall it in any way affect the duties and responsibilities of the Agent to the policyholder, Manager or Company.

Authority of Agent. A. AGENT ACTIVITIES- a. The Manager hereby contracts with the General Agent as is an independent contractor and contractor, not as an employee of the Manager or any Company. The Agent agrees to transact insurance Company and, subject to requirements imposed by law, the terms of this Agreement, and the underwriting rules and guidelines regulations of the Company or Manager as they may exist and be communicated to the Agent from time to time. Within the scope of these requirements and guidelinesCompany, the Agent is authorized to solicit and service customers and potential customers at the times and places, and in the manner, chosen by the Agent in his or her sole discretion. The Agent is responsible for his or her own offices, overhead, employees, vendors, licensing, taxes, fees and other business operations and requirements, including the Agent’s expenses associated with the foregoing. In connection with the Agent’s role as an independent contractor, the Agent is authorized to: 1. Solicit, receive and transmit to the Company through the Manager, or otherwise as directed, proposals for insurance contracts with respect to risks located in the State of Texas, and any other state in which and to the extent the General Agent is legally authorized, which is listed in Schedule A which is incorporated in and made a part of this Agreement for all intents and purposes; 2. Bind and execute insurance contracts on those lines of insurance as provided in Schedule A and, subject to all written manuals, releases and underwriting directions of the Company. The General Agent agrees to notify the Company of any binders, insurance contracts, endorsements and certificates. If the General Agent fails to do so within the number of days for which a commission binding authority is specified indicated in the attached Schedule A, in accordance with procedures communicated by the Manager from time to timesaid binders or insurance contracts shall be invalid. The General Agent's binding authority may not be delegated; 23. Provide all usual and customary services of an insurance agent on all insurance contracts placed by the AgentGeneral Agent with the Company, subject to the limitations provided for herein; 34. Collect and receipt for premiums, except in the case of direct-billed premiums discussed in Section II.B. below. The General Agent shall not receive any commission or other form of compensation for performing its duties hereunder. The General Agent agrees to refund return commissions on policies upon cancellation, policy cancellations or reductions, or other refunds or returns of premiums, in each case at the same rate as at which such commissions were originally were paid by the Company. With respect to premiums to be collected by the Agent, the Agent shall collect and hold such premiums in a fiduciary capacity retained on behalf of the Company and shall be responsible for remitting such premiums to the Manager whether collected by the Agent or notany producing agent; 45. Exercise his or her authority personally or through his authorized employees, provided that as between the Agent and the Manager and the Company, the Agent shall be solely responsible for the acts, errors, and omissions of such employees or independent contractors; 56. Represent other insurance companies; 67. Exercise exclusive and independent control of Agent’s time, his time and the conduct of Agent’s businesshis agency. b. The General Agent is not authorized to: 1. Appoint or terminate the appointment of agents without the approval of the Company; 2. Bind reinsurance or retrocessions on behalf of the Company, and the conduct and activity of Agent’s employees; When an insurance agent’s signature is required on any policy or related document, commit the Company to participation in insurance or Manager has reinsurance syndicates; or collect a payment from a reinsurer or commit the authority insurer to sign a claim settlement with a reinsurer. 3. Adjust or settle claims or set loss reserves. 4. Use any such policy advertisement or document issued through promotion in which any Company name or product is sued without first obtaining the Agent by the mechanical or facsimile imprinting of an appropriate agent name thereon. It is understood and agreed that such imprint shall be effective as if an agent had personally endorsed it on the policy, and that the policy thereafter may be delivered or mailed directly to the policyholder. This procedure shall not reduce or alter the commissions otherwise due to the Agent under policies produced by the Agent, nor shall it in any way affect the duties and responsibilities written consent of the Agent to the policyholder, Manager or Company.