Page 58 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE
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Chapter 11 Insurance Intermediaries
An agent is a person employed to do any act as or to
represent another person in dealings with third persons.
Qui facit per alium,facit per se : The rule as to agency is
expressed in the maxim which means that he who acts
through others, acts through himself.
A principal is a person who employs an agent to do any act for
him or to represent him in dealings with third persons.
Under Section 183 of the Act, any person who is of the age of
majority according to the law to which he is subject, and who
is of sound mind, may employ an agent.
Insurance agents can include individuals, banks, companies,
firms. panchayats, approved credit societies etc.
The procedure for the issue of license and disqualifications
