Question: In the insurance industry, the agent acts primarily for the insurance company, which is the principal. Typically, the insurance agent also advises the client on

In the insurance industry, the agent acts primarily for the insurance company, which is the principal. Typically, the insurance agent also advises the client on the needed coverage and the meaning of the insurance policy. Do you see any potential problems with this situation?

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Historically an insurance agent was seen as agent for the principal the insurance company and as such owed a fiduciary duty to it The insurance agent did not owe a fiduciary duty to the insured becaus... View full answer

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