Licensing Question

[BCMSSE]

First post. I am new to insurance. I am a producer in an agency that is writing in a lot of States. The owner and agency are licensed in most States. I have a license in just my home State. Should I be nonresident licensed in all the other States if I am quoting and binding in other States? Or can I work under and the owners licenses when submitting apps? If so, do I have to pay for that or will the agency? The owners says he’ll do the right thing, but thinks that he is set up correctly, he has always done it this way.

Any help would be great.

 

[VolAgent]

A producer needs to be licensed in every state in which he or she conducts activity which requires a license.

So, yeah, I would say you should be licensed, you aren't in compliance and shouldn't even be paid for the business.

 

[vmamw23]

Similar situation. The owner of the agency actually licensed some of their top agents, maybe 4 of them, in many of the states. We had to write under their agent writing numbers. We were told in the beginning that the agency was going to get us licensed in all the states. Never happened. Left after 90 days. Didn’t like the whole vibe and some things they were doing.

Of course I receive no ongoing payments for the policies I sold. In fact, Guy is trying to say I owe money. They make it seem all is on the up and up.

To the new agent, you might want to rethink that position.

 

[adjusterjack]

Should I be nonresident licensed in all the other States if I am quoting and binding in other States?

Call up the insurance department of each state in which you quote and bind and ask that question. Ask for the statute number that addresses the issue. If you must be licensed (as I suspect) then print out the statute and give it your boss with a note saying you are not allowed to deal with customers in that state without a license. Then stop talking to anybody in that state until you do get a license.

Or can I work under and the owners licenses when submitting apps?

That's another thing to ask of the insurance departments.

If so, do I have to pay for that or will the agency?

That's strictly between you and your boss.

The owners says he’ll do the right thing, but thinks that he is set up correctly, he has always done it this way.

Doesn't mean he isn't wrong.

 

[BCMSSE]

Thanks.
I am new to all this and don't know where to find any of that. Can you please provide any links where I can find this information?