Excerpt from Things Agents Should Know: Compilation a Compilation of Information and Counsel, Original and Otherwise, for the Entertainment and Instruction of Life Insurance Agents
The best authority on this subject, so far as insurance agency is concerned, is a little book called The Insurance Agent; His Rights, Duties and Liabilities, by the late Judge John A. Finch. Judge Finch quotes as the best general definition of "agent" the following from the American and English Encyclop?dia of Law:
"An agent is defined as a person duly authorized to act on behalf of another, or one whose unauthorized act has been duly ratified."
After considering what the statutory laws are in many States, Judge Finch closes with the following comprehensive and accurate definition of what constitutes an insurance agent:
"It may be stated broadly that, in the absence of a statute on the subject, any person who does any act for a company with its knowledge or consent, or who receives a compensation or commission from a company for acts done in connection with the making of the contract of insurance, or whose unauthorized acts in connection with the making of the contract are afterwards ratified by the company, will be held by the courts to be the agent of such company. In the absence of a statute, or a special appointment from the company, the above rule governs the question of agency."
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