Licensing Requirements: Surplus lines brokers are required to be licensed under Pennsylvania law. 40 Pa. Cons. Stat. §§ 991.1615. An applicant for a resident surplus lines license must be a
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. An insurance producer shall be
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? Producers may charge fees in lieu of receiving commissions
Fees must be disclosed in advance in writing to the person charged and be reasonable in relation to the services provided. 40 Pa. Stat. Ann. § 310.74. Federal and state legislative
What entities are covered? “An entity* that maintains, stores, or manages computerized data that includes personal information.” § 2303(a). “Entity” means a “[s]tate agency, a political subdivision of [Pennsylvania] or
