Current through Register Vol. 54, No. 52, December 28, 2024
Section 37a.19 - [Effective 2/12/2025] Exclusive general agents(a) A license does not permit an insurance producer to act as an exclusive general agent. To complete the licensure process to act as an exclusive general agent, an insurance producer shall secure a written appointment from each sponsoring insurer. An insurer shall make appointments of exclusive general agents in writing to the insurance producer.(b) An insurer may terminate an exclusive general agent's appointment in accordance with the following requirements: (1) A termination shall be in writing and sent to the exclusive general agent prior to notification of termination to the department. If an exclusive general agent requests termination, the insurer shall process the termination within 30 days.(2) If an insurer has entered into a contract with the exclusive general agent, the termination date of the appointment shall be the same as the termination date of the contract.(3) The termination notice to the exclusive general agent shall contain at least the following: (i) The name of the insurer for which the agent is being terminated.(ii) The effective date of termination.(iii) The lines of authority terminated.(iv) The name and address of terminated appointee, including fictitious names used by appointee.(v) The national producer number or Pennsylvania license number of the terminated appointee.(vi) The names of the designated licensee or licensees if the terminated appointee is a business entity.Adopted by Pennsylvania Bulletin, Vol 54, No. 50. December 14, 2024, effective 2/12/2025