Sam's agency contract does not specifically state that he can collect premiums and then remit them to the insurer. this is an example of Implied authority
Implied authority is not specifically expressed by the principal to the agent in the agency contract, but is implicit in the agent's duties. Collecting premiums to be forwarded onto the insurer is an example of the agent's implied authority.
A corporation that offers you financial protection against unanticipated, unfortunate events covered by your homeowners insurance or renters insurance is referred to as a "insurer."
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