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Licensing
Selling LTC policies
What type of producer license is needed to sell long-term care policies in New York?
Referral fees to unlicensed persons
Can we pay someone who is not licensed a referral fee? We have two situations. First, we have a life insurance agent who works out of our office and we want him to refer his life insurance clients to our agency for their property/casualty business. Also, we employ a part-time telemarketer to get leads and set up sales calls. Can we pay these individuals a percentage of the commission we make from any sales that result from their referrals?
Nonresident excess/surplus placements
We have a New Jersey resident producer license with surplus-lines authority. We also have a New York broker’s license, but we do not hold a New York excess-line license. On occasion, we have placed New York residents or New York-based risks in carriers which are not admitted in New York state. We recently received an inquiry from the New York State Department of Financial Services questioning these activities. What is the law?
Promotional program to get referrals
We would like to run a promotion for our existing customers, asking them for referrals. The promotion would be that, for every five referrals we would give them a gift certificate/gift card to some vendor. Then their name would be entered into a drawing for a larger gift at the end of the promotion (six months). The question: What is the highest level of a gift certificate or gift card that can be given? I think I saw something saying it cannot be more than $15.
New York insurance producers can resign from an account
May a producer resign from acting as an insured’s representative? If so, how should this be done and is the answer different for a resignation midterm on a policy rather than resignation at renewal time?
Referral payments
I’m setting up a referral program in which people receive a gift certificate or gift card when they provide five referrals to my agency. Can the gift certificate/card be given only for booked referrals or just when the person refers five prospects whether or not they are booked?
End-of-promotion gifts
What type of promotional gifts can be given? Can it be a small TV? An IPOD?
Misdemeanor charges for licensees
I’m a licensed insurance agent in New York and I was recently arrested. Ultimately, I will plea all charges to a misdemeanor. Our agency’s insurance license is up for renewal and I know I have to notify the New York State Department of Financial Services of this. Is this something that could make me exempt from being able to be licensed?
How to add or remove sublicensees
How do I add or remove sublicensees from my New York business-entity insurance license?
Agency perpetuation—unlicensed person
What happens to my agency when I die? Can my spouse or someone else take over for me without a license?Â
Background checks
We have a company asking us to sign an authorization to do a criminal background check. The company says it is required by law to do them. Further, they said all companies are supposed to do these checks. To what law are they referring?
Florida licensing requirements
I plan on moving to Florida but would like to stay active selling insurance. What do I need to do to become licensed there?
National Insurance Producer Registry—license renewal
I’m an agency owner and listed as the responsible producer for my agency, and hold a valid property/casualty license. Why won’t the National Insurance Producer Registry website let me renew the agency license?
Licensing for Canada
What steps must I take to become licensed to sell insurance in Canada?
Nonresident licensing—Hawaii
I work for an agency that operates under a business-entity license. I have the opportunity to handle an account in Hawaii, and need to know if I can do so under an individual nonresident license, or if the agency needs to obtain nonresident licensure.
Citizenship requirements for licensing
Can a non-citizen be an insurance agent?
Nonresident license in Virginia
Do I need to have domicile in Virginia in order to do business there as a nonresident agency?