1. (1) A person involved in the sale, solicitation, or negotiation of self-service storage insurance must be licensed pursuant to Title 31A, Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, and this rule.
2. (2) A self-service storage insurance license is issued for a two-year period and does not require examination or continuing education.
3. (3) A self-service storage insurance license must be renewed at the end of the two-year licensing period pursuant to Title 31A, Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, and this rule.
4. (4) A self-service storage insurance license may be held by a self-service storage facility or a franchisee of a self-service storage facility.

5. (5) An individual licensed under this rule shall:

   1. (a) be appointed by an insurance company underwriting the insurance policy the individual sells; or
   2. (b) be designated to act by an agency licensed under this rule.

6. (6) An agency licensed under this rule shall:

   1. (a) be appointed by an insurance company underwriting the insurance policies the agency sells; and
   2. (b) designate a licensed individual to be responsible for the regulatory compliance of the agency.

7. (7)(a) An agency licensed under this rule may employ non-licensed personnel as a self-service storage counter sales representative to sell, solicit, or negotiate self-service storage insurance.

   1. (b) Any non-licensed employee shall:

      1. (i) be trained and supervised in the sale of a self-service storage insurance product; and
      2. (ii) be responsible to a licensed individual designated by the agency.
8. (8) A self-service storage facility, or a franchisee of a self-service storage facility, may not offer or sell self-service storage insurance unless it complies with the requirements of this rule and is licensed by the commissioner.

KEY: self-service storage, insurance

Date of Last Change: June 21, 2022

Notice of Continuation: September 15, 2023

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-23a-104; 31A-23a-106; 31A-23a-110; 31A-23a-111; 31A-1-301; 31A-23a-102