What documentation grants express authority to an insurance agent?

The agent's contract with the principal is the correct documentation that grants express authority to an insurance agent. This contract, often called an agency agreement, explicitly outlines the scope of the agent's authority, the duties and obligations of both the agent and the principal (the insurance company), and the type of insurance products the agent is permitted to sell. It serves as a legal foundation for the agent's actions, ensuring that both parties have a clear understanding of what is expected.

In contrast, while the agent's insurance license demonstrates that the agent is qualified to sell insurance and has met certain regulatory requirements, it does not specifically define the powers granted to the agent by the principal. State provisions, on the other hand, refer to the laws and regulations governing insurance practices, which may set minimum standards for agency operations but don't individually designate authority. A fiduciary contract, while relevant to the relationship between the agent and the principal, typically details the responsibilities of trust and care but may not expressly state the powers of the agent. Therefore, the agent's contract with the principal is the definitive document that articulates express authority.