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If the producer is going to charge fees or place business with a company to which they are not appointed, are there requirements other than being licensed that need to be met?

April 26, 2017appointed Business charge COMPANY fees going licensed producer requirements

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If the producer is going to charge fees or place business with a company to which they are not appointed, are there requirements other than being licensed that need to be met?

1 Answer

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Yes, the producer will need to have a bond in place for placing business with a company to which they are not appointed and will be required to furnish the required written compensation disclosure to the insured where the producer deals directly with the insured and charges the insured a fee.