Licensing Requirements: Surplus lines brokers are required to be licensed under Washington law. Wash. Rev. Code §§ 48.15.070, 48.15-073, Wash. Admin. Code § 284-15-010. To be licensed as a resident surplus line broker,
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 premiums received by a
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? A producer may receive the following compensation (unless the
If a producer receives a fee from the insured, for each policy the producer must disclose the following in writing to the insured: the full amount of the fee to
What entities are covered? “Any person or business that conducts business in [Washington] and that owns or licenses data that includes personal information.” § 19.255.010(1). Is there a requirement for
