GISC - get the balance right.
Why is Grant Ellis so concerned about "underfunding of intermediary accounts" (PB, November, p4) whe...
Why is Grant Ellis so concerned about "underfunding of intermediaryaccounts" (PB, November, p4) when the law of agency provides payment to an
agent acting within the apparent scope of their authority is payment to
the principal? This is precisely why insurers take personal guarantees
from directors of limited companies before granting an agency - it is the
insurer which carries the risk and not the insured, who is fully protected
at all times provided he holds a receipt for any payment.
The GISC
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