Professional Standards
As a fiduciary, your advisor is required to follow professional standards to serve you properly.
Constructive Notice
Any information the agent receives from you (as the applicant) is considered to have been given to the insurer (the principal), i.e., that the agent will pass knowledge about you to the insurer
- communicating to the principal is a duty of the agent
- fails if
- the agent is committing fraud against the insurer
- you and the agent conspire to conceal material facts
- the agent knows you have misrepresented a material fact but doesn't inform the insurer
page revision: 20, last edited: 23 Sep 2007 20:54