Like Big Brother, California’s Department of Insurance is watching you. Okay, perhaps not literally — and certainly not all of you, but the department definitely has its antennae up when it comes to the business of brokers and agents, particularly …
An area of intensive scrutiny by the California Department of Insurance surrounds the charging and disclosing of broker fees. The department regularly receives a high volume of customer complaints concerning the failure to disclose broker fees or excessive broker fees. …
A new bill that took effect in January allows the California Department of Insurance to issue monetary citations against insurance brokers and agents for minor Insurance Code violations. Existing Law Under the existing law, Insurance Code ยง1746, when the Department …
Retention of Business Records Most people dread record keeping, whether it is logging expenses, travel mileage, billable hours, laps on the treadmill or the birthday presents given to family friends. Although it is tedious, record keeping is necessary for the …
A Review of Reporting Changes in Licensee’s Background Information Many licensees or applicants are unaware of the continuing requirement to notify the California Department of Insurance (DOI) of changes in the background information they provided on their original insurance applications …
Failing to Disclose Could Lead to Lawsuits Many insurance brokers and agents who perform services for premium finance companies may unwittingly violate certain disclosure requirements under the California Insurance Code because they are unaware that the obligations exist. In an …
