Licensing Requirements: Surplus lines brokers are required to be licensed under Indiana law. Ind. Code § 27-1-15.8-3; Ind. Code § 27-1-15.6-8. To qualify for a surplus lines broker license, a resident
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. Producers may not, however, improperly withhold,
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? An insurance producer may charge fees in addition to
The producer must provide the insured with a written agreement and disclose, prior to the transaction, that the producer will receive compensation for the sale of the policy and the
What entities are covered? A “data base owner,” defined as “a person that owns or licenses computerized data that includes personal information.” § 24-4.9-2-3. Is there a requirement for service
