Principal officer

A principal officer is the named individual accountable for an entity’s compliance with the distribution regulations. Corporate agents and brokers must have one.

An individual agent does not, and naming one would misstate the nature of the licence. The licence is held by the individual personally.

Related terms

• Corporate agent A company, firm or bank registered to distribute insurance, as distinct from an individual agent.
• Insurance broker An intermediary that represents the customer and can place business with multiple insurers.
• Insurance agent An individual appointed by an insurer to solicit and service its insurance business.

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