GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
If you have a comment, suggestion or question please contact us at glossary@scic.com

Agency

A relationship, express or implied, wherein one party (principal) delegates authority to another person (agent or proxy) to undertake certain activities for the principal. The agent’s limit of authority and discretionary power depends upon the agreement between the parties.


Do you need an answer immediately?

Check out our FAQ page!

Welcome To the Alliance!

The National Alliance for Insurance Education & Research is now the Risk & Insurance Education Alliance, or simply “The Alliance”.  For more details, please read our Press Release.