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California Assembly Considering Insurance Agent-Broker Bill

West News • March 31, 2008
A bill that would help to clarify when an insurance professional is acting in the capacity of a broker versus an agent in California is scheduled come before the state Assembly Insurance Committee ...

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Subject: RE: IBA West to the rescue?

Posted On: April 5, 2008, 12:00 pm CDT
Posted By: Gary
Comment:
The bill is certainly a step in the right direction, although still lacks "meat". Whether or not you are "appointed" by an insurer should have no bearing on the definition of agent or broker. It merely comes down to a simple definition: if you represent 1 insurer (i.e. captive agent) you are an agent. If you represent more than 1 insurer (i.e. independent) you are a broker. Thusly, a broker should have the right to charge a "service or broker fee" for the extra work and service provided to the client on behalf of the client. It really isn't that difficult.
Subject Posted By Posted On
RE: IBA West to the rescue? Gary
Apr 5, 2008, 12:00 pm
Agent or Broker: No Real Difference The Non-Joker
Mar 31, 2008, 4:49 pm
IBA West to the rescue? John Q. Broker
Mar 31, 2008, 1:05 pm
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