What does Selling Agents' Commission Insurance mean? Read on to discover the definition & meaning of the term Selling Agents' Commission Insurance - to help you better understand the language used in insurance policies.
Selling Agents' Commission Insurance
Selling agents' commission insurance protects people who make a living from the commissions they earn on sales. This type of insurance reimburses selling agents for losses that occur when a company is unable to fulfill its obligations. This could be because the company's building burned down, got hit by a tornado, or any number of reasons.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Selling Agents' Commission Insurance. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: