Risk Retention

Cal. INS § 137

California Statutes

(

a) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless that person, firm, association, or corporation is licensed as a casualty broker-agent in accordance with

Chapter 5 (commencing with

Section 1621) of Part and is authorized to act as an insurance broker; except salaried employees or officers of a risk retention group, provided no part of the compensation of that person is on a commission basis or otherwise based on production of business. (

b) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless that person, firm, association, or corporation is licensed as a surplus line broker in accordance with

Chapter 6 (commencing with

Section 1760) of

Part 2. A nonresident person may be licensed as a surplus line broker for purposes of placing insurance on behalf of a purchasing group. (

c) Any person, firm, association, or corporation licensed pursuant to

Chapter 5 (commencing with

Section 1621) of

Part 2, on business placed with risk retention groups or written through a purchasing group, shall inform each prospective insured of the provisions of the notice required by subdivision (

g) of

Section in the case of a risk retention group and subdivision (

b) of

Section in the case of a purchasing group.

Document details

CollectionCalifornia Statutes
CitationCal. INS § 137
Date2012-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierINS137.20114112

Risk Retention

Cal. INS § 137

California Statutes

Risk Retention

Cal. INS § 137

California Statutes

(

a) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless that person, firm, association, or corporation is licensed as a casualty broker-agent in accordance with

Chapter 5 (commencing with

Section 1621) of Part and is authorized to act as an insurance broker; except salaried employees or officers of a risk retention group, provided no part of the compensation of that person is on a commission basis or otherwise based on production of business. (

b) No person, firm, association, or corporation shall act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless that person, firm, association, or corporation is licensed as a surplus line broker in accordance with

Chapter 6 (commencing with

Section 1760) of

Part 2. A nonresident person may be licensed as a surplus line broker for purposes of placing insurance on behalf of a purchasing group. (

c) Any person, firm, association, or corporation licensed pursuant to

Chapter 5 (commencing with

Section 1621) of

Part 2, on business placed with risk retention groups or written through a purchasing group, shall inform each prospective insured of the provisions of the notice required by subdivision (

g) of

Section in the case of a risk retention group and subdivision (

b) of

Section in the case of a purchasing group.

Document details

CollectionCalifornia Statutes
CitationCal. INS § 137
Date2012-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierINS137.20114112