Business Entity

Business Entity License being suspended

If the Designated Responsible Licensed Producer (DRLP) fails to renew their producer’s license, the insurance regulators will suspend the Business Entity License.  Insurers can not pay commissions to  suspected Business Entity.  In order to protect against that happening make certain the DRLP renews their license early.  The other solution is to have 2nd DRLP for …

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Business Entity License

Any organization or individual can apply for a Business Entity License provided they have named a “Designated Responsible Licensed Producer”.  This individual is held responsible for the activities of others working for the Business Entity to insure insurance laws and regulations are followed.  When an individual is listed under a Business Entity, that producer can …

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