Any insurer, or insurer acting through a licensed general agent, is prohibited by Section 27-7-34, Code of Ala. 1975, from accepting business on risks located in this State except through a licensed and appointed insurance producer. For this reason, any insurance company soliciting business from producers not appointed by it must have a duly appointed producer to accept all brokerage business. The appointed producer will be held accountable for all transactions involving brokerage business.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §27-2-17.

History: New Rule: February 17, 1975; effective April 1, 1975. Revised: April 27, 2007; effective May 7, 2007. Filed with LRS April 27, 2007. Rule is not subject to the Alabama Administrative Procedure Act.