What term describes the actions and deeds an agent is authorized to conduct on behalf of an insurance company?

The term that best describes the actions and deeds an agent is authorized to conduct on behalf of an insurance company is "authority." Authority encompasses the scope of power granted to an insurance agent, allowing them to perform tasks such as selling policies, collecting premiums, and servicing clients within the guidelines set by the insurance company. There are different types of authority, including express authority, which is explicitly granted, and implied authority, which is assumed based on the agent's role.

Understanding authority is crucial because it defines the relationship and responsibilities between the agent and the insurance company, influencing how transactions are conducted and how clients perceive the agent's capabilities. In this context, the agent acts as a representative of the company, but the term that specifically captures the legal and operational framework of what the agent can do is authority.