In any case there is a controversy or dispute between the insurance company and the insured, the soliciting agent is the agent of the...

Study for the POL California Life Insurance Marketplace Test. Prepare with flashcards, multiple-choice questions, hints, and explanations. Get ready for your exam!

The soliciting agent is considered to be the agent of the insurance company. This relationship means that the agent represents the interests of the company in their dealings, including in situations where a dispute arises between the insurer and the insured. The agent has a fiduciary duty to act on behalf of the company, facilitating the sale of policies, collecting premiums, and representing the company's terms and conditions to potential clients.

When a controversy or dispute occurs, it is the insurance company that ultimately holds the responsibility for resolving the issue pursuant to the policy terms. While the agent may assist in communication or act as an intermediary, their loyalty and primary obligation are to the insurance company, making them an agent of the company in legal and operational contexts. This distinction is crucial in understanding the dynamics at play in the insurance marketplace.

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