California Insurance Code & EthicsQuestion 77 of 315
An agent's appointment with a particular insurer is terminated for cause. The insurer must notify the Commissioner of the termination and the reasons:
a.Only if requested by the Commissioner
b.Promptly, by filing a written notice that may include the cause
c.Only at the next annual renewal cycle
d.Never; appointments are private contractual matters
Explanation
Insurers must promptly file a Notice of Appointment Termination with CDI and, when the termination is for cause involving violations of law or ethics, disclose the underlying facts so the Department can investigate.
Law Reference: Cal. Ins. Code §1724Practice all 315 questions free — no signup required.
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