Licensing Requirements: Surplus lines brokers are required to be licensed under Missouri law. Mo. Rev. Stat. § 384.043.1. To qualify for a surplus lines broker license, an applicant must (1)
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. Any insurance producer who collects premiums
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Insurance producers may charge fees for negotiation, procurement, and
A producer may charge a fee only under the terms of a separate written agreement, signed by the client, specifying the services to be provided and the fee to be
What entities are covered? “Any person that owns or licenses* personal information of residents of Missouri or any person** that conducts business in Missouri that owns or licenses personal information
