Licensing Requirements: Surplus lines brokers are required to be licensed under Connecticut law. Conn. Gen. Stat. § 38a-794. To apply for a resident surplus lines broker license, an individual must
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)? No. An insurance producer must, however, remit
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Licensed insurance producers may charge fees in addition to
A written memorandum is required when a licensed insurance producer charges a fee in addition to receiving a commission for the negotiation or procurement of insurance. In addition, producers are
What entities are covered? “Any person who conducts business in [Connecticut], and who, in the ordinary course of such person’s business, owns, maintains or licenses computerized data that includes personal
