Starting an Agency

[DJM]

Question for all you independent agency owners out there.

I am in the great (lol) state of MI and I am opening up an independent agency. Now say I want to recruit across state lines (Indiana and Illinois specifically) Do I need a non resident for both myself and my agency? or just me? I already have my non resident in Indy and Illinois and I am wondering if I need to get my agency a non resident license also to recruit. Also, I know in some states you can recruit but will not receive overrides unless you are licensed in that state. I want to get overrides, if that matters.
If you can help me, my contact info is below, or you can pm me. Thanks alot in advance everyone.

DJ

 

[wfs]

As long as you do not materially participate in those insurance transactions, I do not think that you need a license. I do not know if there are any "sensitive" states - there may be. You may need a license for certain "pre-appoint" states like Pennsylvania or Georgia. Once you are contracted with each company, you can surely double-check just to be sure. Believe me, an insurance company will not pay you if they legally cannot.

 

[DJM]

Where could I go to look up this information Len? Should I just ask the carriers I am getting appointed with? or should I call the states DOI? I tried looking on google, but I did not find anything, maybe I am just blind? Thanks for your help.
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All I could find was some info on this

NAIC Producer Licensing Model Act

It says that " in states that adopt the
NAIC Producer Licensing Model Act,
you will not need a non res to get overrides if you dont participate in sales. does this mean I would not need a individual non res and an agency non res.

For example Idaho enacted this, I could go and recruit in Idaho and without having any licenses in Idaho if all I planned on doing was recruiting, and not selling?

 

[wfs]

I would just confirm with the carriers. As I said, you should be fine in most states.