Home > Glossary

Draft Authority

Draft Authority

Definition

Some insurers will grant authority to some agents to issue claim drafts on their behalf. This is most commonly done with personal lines coverages not involving liability (e.g., auto physical damage and damage to insured property under homeowners policies). Draft authority is usually limited to small amounts ($2,500 or less).
Register for CRC
Register for AgriCon Des Moines
Prelicense.com

Navigation

Social Media

User ID: Subscriber Status:Free