To Be an IA and to Be Appointed with Carriers You Need PC or BR?
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Re: To Be an IA and to Be Appointed with Carriers You Need PC or
No, i am licensed as a broker with P&C lines. with the license starting with BR-XXXXX.
One carrier today called me back and say i am not a P&C agent and will not appoint me. He said that i must be a P&C agent to be appointed. Does this make a different in starting an independent agency with direct appointments.
Just got me confused and trying to do some research between operating as a broker or an agent.
No, i am licensed as a broker with P&C lines. with the license starting with BR-XXXXX.
One carrier today called me back and say i am not a P&C agent and will not appoint me. He said that i must be a P&C agent to be appointed. Does this make a different in starting an independent agency with direct appointments.
Just got me confused and trying to do some research between operating as a broker or an agent.
Re: To Be an IA and to Be Appointed with Carriers You Need PC or
It's a state specific thing. Here in California, they only have Broker licenses for P&C and agent licenses for life & health.
If you get technical, as an agent, you're fiduciary responsibility belongs with the carrier, as a broker, it belongs to the client. No carrier will appoint a person (at least with binding authority) if they don't put the carrier first, so usually, as far as a carrier is concerned, if you are appointed (especially with binding authority), they will call you an agent. You represent that company.
If New York as different licenses for brokers vs agents, you'll have to find out what the distinctions are that they make. Like I said, its a state specific thing.
Dan
It's a state specific thing. Here in California, they only have Broker licenses for P&C and agent licenses for life & health.
If you get technical, as an agent, you're fiduciary responsibility belongs with the carrier, as a broker, it belongs to the client. No carrier will appoint a person (at least with binding authority) if they don't put the carrier first, so usually, as far as a carrier is concerned, if you are appointed (especially with binding authority), they will call you an agent. You represent that company.
If New York as different licenses for brokers vs agents, you'll have to find out what the distinctions are that they make. Like I said, its a state specific thing.
Dan
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Re: To Be an IA and to Be Appointed with Carriers You Need PC or
CA the broker and agent license is the same. You need to check with your state DOI.
CA the broker and agent license is the same. You need to check with your state DOI.
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