 Definition of an Agent  A person can be an agent only when he is authorised to act for the principal.

 To be an Agent- The person employed must be authorised to do any act for another.  Principal- The person for whom such act is done of who is so represented.

 Express authority.  Implied authority.  Ostensible or Apparent authority.

 The act with in scope.  Proper care.  To deduct lawful charges.  Reasonable diligence.  Not adverse title.  To render accounts.  In interest of principal.  Not to deal on own name.  No conflict.  Not delegate further.

 Right to remuneration.  Right to get compensation.  Right to return money.  Right to indemnity.  Right to retention.

 Towards principal.  Towards third party.

 Licence is required under section 42 of insurance Act,1938 which is regulated by the insurance regulatory and development authority(IRDA) ````````````````````````````````````````````