Licensing Requirements: Surplus lines brokers are required to be licensed under California law. Cal. Ins. Code §§ 1638-39, 1765. To qualify for licensure, resident surplus lines brokers must either: (i)
Does the state impose a fiduciary obligation on producers with respect to the handling of client funds (e.g. funds, monies, premiums and return premiums)? Yes. All funds received as premium
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Brokers placing personal lines policies may charge a broker
A broker may charge a broker fee provided that (i) the consumer agrees to the fee in advance after full disclosure of the material facts surrounding the fee, (ii) the
What entities are covered? “A person or business that conducts business in California, and that owns or licenses computerized data that includes personal information.” § 1798.82(a). Is there a requirement
