What is the relationship called between the agent and the insurance company?

The relationship between the agent and the insurance company is referred to as "Agent Authority." This term describes the legal rights and responsibilities that the agent has in representing the insurance company. An agent acts on behalf of the insurer, facilitating the sale of insurance policies and binding the insurer to contracts with clients.

Agent authority can vary based on the terms of the agency agreement and can include different types of authority, such as actual authority, implied authority, and apparent authority. Understanding this relationship is crucial for agents as it outlines what actions they are permitted to take and how they can represent the insurer to the client.

The other options each represent different concepts related to insurance but do not define the relationship itself. A client agreement refers to the understanding between the agent and the customer, while an insurance contract is the agreement between the insurer and the insured. A brokerage license, on the other hand, is a credential that allows an agent to operate legally but does not define the nature of the relationship with the insurance company.