Agent Of Record
What Does Agent Of Record Mean?
An agent of record is a company or individual who has the legal authority to represent the insured in managing, servicing, and purchasing an insurance policy.
Insuranceopedia Explains Agent Of Record
People or companies often hire agents of record to avoid the time and effort involved in managing their insurance policies themselves. This arrangement helps policyholders save time. Since agents of record have the legal authority to act on behalf of the client, insurance companies can communicate directly with them. However, insurance companies typically will not engage with individuals who are not authorized agents of record for the insured party. An insured individual can change their agent of record through official channels, usually by submitting a formal document authorizing the release of information and allowing discussions about their insurance policies with the newly designated agent.
