Power of attorney

{
  "id": "MLC-T-INS-002617",
  "term": "Power of attorney",
  "field": "Insurance and risk management",
  "definition": "A legal document that grants one person, the agent or attorney-in-fact, the authority to act on behalf of another person, the principal, in specified matters. In insurance, this authorization allows an agent to manage claims, sign policy documents, or make financial decisions for the principal. The scope of authority can be general or limited to specific actions.",
  "url": "https://mlchart.com/terminology/insurance/power-of-attorney/"
}