Free Connecticut Insurance FAQs | Free Connecticut Insurance Legal Documents

What About Sharing Commissions?

Tue, 29 May 2007 21:19:00 GMT

Under CGS 38a706, licensed Producers may share commissions. However, both Producers must be licensed to transact in the type of insurance that is the subject of the shared commission.

What Are The Requirements For An Individual License?

Tue, 29 May 2007 21:19:00 GMT

Applicants for a Producer license are required to satisfy all resident prelicense requirements, unless the applicant holds a same or similar license from any other state for authority equal to that being applied for in Connecticut. Evidence of licensure in another state must be proved by a current Letter of Certification from the other state`s Insurance Department. All applicants for Bail Bond authority are subject to separate requirements.

What Is An Authorized Licensing Representative?

Tue, 29 May 2007 21:19:00 GMT

An authorized licensing representative is an individual whose name is on file at the Insurance Department as being authorized to appoint Producers.

What Is An Insurance Producer?

Tue, 29 May 2007 21:19:00 GMT

An insurance producer is defined as any person, partnership, association, limited liability company or corporation, or any person, partnership, association, limited liability company or corporation acting under a trade name, or any member, stockholder, officer or employee of such an entity, holding a Producer`s license then in force in Connecticut, and which, for compensation, aids in any manner or acts as a representative on behalf of an insured or client, and who solicits or negotiates coverage of insurance for the public without an agreement or contract with any specific insurance company, and not as an officer, traveling salaried employee or appointed agent of the insurance company, or a licensed Producer holding an agent`s appointment. A Producer`s license shall not be used as a substitute for an agent`s appointment.

What Is The Relevant State Statute?

Tue, 29 May 2007 21:19:00 GMT

CGS 38a702

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