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SILA Agency-Carrier Subgroup (SACS) Meeting
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SILA Agency-Carrier Subgroup (SACS) Meeting

 Export to Your Calendar 11/15/2018
When: Thursday, November 15, 2018
2:00 - 3:00 PM
Where: United States

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SACS Subgroup Meeting

4th Quarter 2018  

 

Date:                    Thursday, November 15, 2018

Time:                    2:00 -3:00 PM Eastern

Call Number:       303-248-0285; Code 3405506#  

 

AGENDA TOPICS

 

1.  Welcome (Sandy Von Ruden)

2.  SACS Task Group Updates

  • Best Practices Chapter Update:  Affiliation / DRLP Task Group – Linda Brunette
  • Best Practices Chapter Update:  Branch Licensing Task Group – Linda Brunette
  • Background Investigation-Greg Kirsch
  • Commissions-Teresa Padgett (looking for a Carrier co-chair)

3.  2019 Task Groups (Paul Willis)

  • PDB vs License Copies Best Practices Chapter Review/Update
  • Appointment Task Group
  • Commissions Task Group
  • Background Investigation Task Group
  • TPA/MGA Licensing

4.  Searching for SACS Steering Committee Members (Diana Capes)

5.  Open Forum Discussion Topics – Paul Willis (no minutes taken during this portion of the meeting)

a.      Do agency appointment rules vary if the agency is being paid or not? Does an Agency need to be appointed ONLY if they are receiving payment?

 

b.     Can someone point me in the right direction of a regulation, definition, best practice, etc. that explains whether an insurance company can solicit? I see portals or a way for an individual to get a quote or request a bond directly on insurance carrier websites. I assume this is allowed and they are also allowed to advertise direct to consumer - without the traditional agency-agent-appointment relationship.

 

c.     If an agency writes a full year policy with us and the agency mid-term allows their state license to non-renew, how does that impact the policy? Here is an example: We have an agency that bound a policy with effective dates 1-1-2017 through 1-1-2018 with NY exposure. On 6-30-2018, the agency decides to not renew their NY license. 1. In this scenario, how does this impact the policy? Do we have to cancel the policy effective 6-30-2018 because the agency does not have a NY license? 2. If we don’t cancel the policy mid-term due to the agency non-renewing their license, how do we manage the renewal? We can’t renew the policy under the agency because the agency no longer has the NY license. Is there a notice we provide to the insured that we cannot renew the policy because the agency did not maintain their state license? Do we offer the renewal to a different agency that has a NY license? How does your company treat this situation? Even though New York is used in the above scenario, your treatment with any state would be appreciated.

 

d.     It's a growing trend of producers working from home... According to the Producer Licensing Model Act. It defines "Home State" as place of residence or principal place of business. If I have an IL resident producer who is moving to CA but still reporting to the IL business address, can she keep her IL resident license and obtain a nonresident CA license? Is principal place of business defined as the "corporate headquarters" or the branch the producer is working out of?

 

 

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