MLchartDataset catalogue

Dual agency

Term · Insurance and risk management · MLC-T-INS-001230

A situation in which an insurance agent represents both the insured and the insurer in the same transaction, or represents two different parties with conflicting interests. This arrangement requires full disclosure to all parties involved due to potential conflicts of interest. Regulations governing dual agency vary by jurisdiction, often requiring written consent from all principals.

Table 1. Record
IdentifierMLC-T-INS-001230
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001230",
  "term": "Dual agency",
  "field": "Insurance and risk management",
  "definition": "A situation in which an insurance agent represents both the insured and the insurer in the same transaction, or represents two different parties with conflicting interests. This arrangement requires full disclosure to all parties involved due to potential conflicts of interest. Regulations governing dual agency vary by jurisdiction, often requiring written consent from all principals.",
  "url": "https://mlchart.com/terminology/insurance/dual-agency/"
}

Record 1,058 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.