No. 0:18-cv-03025-JNE-ECW (D. Minn.) – filed in federal court in St. Paul, Minnesota
Doc 138 - Transcript - June 23, 2020
p27 - It's Vacura v. Haar's Equipment, Inc. It's cited in the notes to this Jury Instruction, 364 N.W.2d 387 at 391, Minnesota Supreme Court 1985.
And the Court says, well, apparent authority is usually based on some affirmative action on the part of the principal.
⇒ Authority may be found when the agent has regularly exercised some power not expressly given to it and the principal knowing of the practice tacitly sanctions its continuance.
And that's where we're at here.
2024 0209 - FSRA - [2023-015] - Comments - Consultation for Proposed Guidance on Life Insurance Agent & MGA Licensing Suitability --- [BonkNote]
CLHIA - Canadian Life and Health Insurance Association - Lyne Duhaime - [FSRA-2023-015] - 2024 0223 - 10p
In practical terms, the vast majority of MGAs operate independently and support the distribution of insurance products of a variety of insurers.
Very few insurance distribution participants have a model that approximates one in which apparent authority could possibly be found.
FSRA’s reliance on agency law to deem a principal-agent relationship to exist “in certain circumstances” is a response suited to the distribution model contemplated by the Insurance Act of the 1990s, when insurers almost exclusively sold products through a career salesforce.
If FSRA is looking for greater authority to regulate MGAs, which life insurers support, the proper forum to acquire that authority is in legislation.