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If the Wholesale Broker / MGA is making the filing (regardless of the retail agent having a SL license), then my information was correct. If the retail agent has the SL license AND is making the filing, then it is just a matter of following the statute.
Whoops --- not correct information -- In Arizona a fee for surplus lines business can be charged only by a surplus lines broker and a tax (and stamping fee) must be collected as well by the surplus lines broker. ARS 20-410 C. If you are the retail agent and not the one filing the taxes on the risk, ...
- Tue Jul 27, 2010 11:15 am
- Forum: Opinions
- Topic: New Insurance Agency Startup Questions
- Replies: 22
- Views: 47953
With 5 years of experience you can do it, but understand the first year is going to be brutal. You need to have savings or another source of income (spouse, family) to survive the first year. Second year will be tough as well but should be a little better than the first year. By the third year you s...