Question

What are the five duties that the law of agency imposes on insurance agents?

Answer 1

The law of agency imposes five duties on insurance agents: duty of fidelity, duty of reparation, duty of gratitude, duty to promote a maximum of aggregate good, and duty of non-maleficence.

Step-by-step explanation:

1. Duty of fidelity: Insurance agents have a duty to keep promises and be truthful to their clients.
2. Duty of reparation: Insurance agents have a duty to make up for any wrongs done to their clients.
3. Duty of gratitude: Insurance agents have a duty to express gratitude and reciprocate when others do things that benefit their clients.
4. Duty to promote a maximum of aggregate good: Insurance agents have a duty to increase the overall good in the world through their actions.
5. Duty of non-maleficence: Insurance agents have a duty to not harm others.