Glossary

An afterburner is a pollution control device located so that the combustion gases are made to pass through its flame in order to remove smoke and odors. It may be attached to or be separated from the incinerator itself.

Aftermarket parts are auto crash parts produced by firms other than the manufacturer of the car.

An agency is an entity that sells insurance.

An agency agreement is a written contract stipulating the arrangement between an insurance agency and the insurer it represents.

Unlike other forms of captives, agency captives are not designed to provide insurance for their owners.

Agency construction management is a professional fee-based arrangement in which the construction manager provides a variety of advisory services to the owner of a construction project without responsibility for providing any actual construction services.

An agency plant represents the total force of an insurer's marketing force.

An agency system is an independent contractor approach to sales and service in insurance marketing.

An agent is a person or organization that is authorized to act on behalf of another. An insurance agent is a person or organization that solicits, negotiates, or instigates insurance policies on behalf of one or more insurance companies.

Agents errors and omissions (E&O) policies provide coverage for any act or omission of the insured (or of any other person for whose acts or omissions the insured is legally responsible), arising out of the performance of professional services in the insured's capacity as an insurance agent or insurance broker.