500.1211 Solicitation and collection on behalf of licensed insurance producer; authorization; contract; agent of the insured; agent of the insurer.

241 words·~1 min read·/mi/chapter-500/500-1211

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Sec. 1211.

(1)A natural person may solicit applications for insurance and collect premiums on behalf of a licensed insurance producer resident in this state if he or she is so authorized to act by a written contract with the insurance producer, and the contract specifies the extent of his or her authority to act, he or she is licensed to act as a solicitor in accordance with this chapter, and the insurance producer has notified the director of the contract.

(2)An agent of the insured may obtain coverage for a consumer through an agent of the insurer if all of the following apply:

(a)The agent of the insured is licensed to act as an insurance producer in accordance with this chapter.

(b)The agent of the insured has a relationship with the agent of the insurer under a written contract. The written contract under this subdivision must specify the extent of the agent of the insured's authority to act and require the maintenance of an amount of professional liability insurance, commonly known as errors and omissions insurance.

(c)The coverage being obtained is not a health insurance policy or a health maintenance contract.

History: Add. 2001, Act 228 , Eff. Mar. 1, 2002 ;-- Am. 2018, Act 449 , Imd. Eff. Dec. 21, 2018

Popular Name: Act 218