Due Care/due Diligence
Definition of "Due care/due diligence"
Assurance by the agent that the recommended insurance plan for the client is suitable for that client's specific needs. This assurance is derived from a careful analysis by the agent of the insurance company's financial strength, the accuracy of the policy illustrations, and the treatment of its previous and current policy owners.
Popular Insurance Terms
Same as term Material Misrepresentation: falsification of a material fact in such a manner that, had the insurance company known the truth, it would not have insured the risk. A material ...
Health insurance that provides income payments to the insured wage earner when income is interrupted or terminated because of illness, sickness, or accident. Definitions under this ...
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