Licensing Requirements: Surplus lines brokers are required to be licensed under West Virginia law. W. Va. Code §§ 33-12C-8; 33-12-12; W. Va. Code R. § 114-20-3.To be licensed as surplus lines
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 may not,
May producers both charge a fee and collect a commission in connection with transactions and services provided to a particular client? It is the position of the West Virginia Insurance
Currently, West Virginia has no state laws or regulations pertaining to Producer’s Compensation Disclosure.
What entities are covered? “An individual or entity* that owns or licenses computerized data that includes personal information.” § 46A-2A-102(a). “‘Entity’ includes corporations, business trusts, estates, partnerships, limited partnerships, limited