An agent may share commissions with another licensed agent that is similarly licensed An employer with under 20 employees must allow a terminated employee to continue accident and health coverage for a minimum of _______ months. In the field of insurance and real estate, the question of whether an agent can legally share commissions with others is governed by laws and regulations related to agency relationships This is permissible as agents can collaborate and share commissions if both agents are licensed and comply with the regulations of their state or jurisdiction. Explanation of the correct answer agents are generally permitted to share commissions with other licensed agents, as this facilitates cooperation and shared responsibility in serving clients This practice is legal and common within the insurance industry, promoting collaboration among professionals.
An insurance agent is permitted to legally share commissions only with another licensed agent operating in the same line of insurance This sharing is often referred to as a commission split and is a recognized practice in the industry. (c) an insurer or insurance agent may pay or assign a commission, service fee, brokerage fee, or other type of consideration to an insurance agency or to any person who does not sell, solicit, or negotiate insurance in this state, unless the payment or assignment is prohibited by division (b) (7) of section 3901.211 or by section 3911.20, 3933. When a licensed agent or agency, which does not have an appointment from a particular insurance company, refers an application for insurance to another agent or managing general agent, who does have an appointment with that company, and the referral has resulted in the issuance of a policy of insurance written by that company, the agent who has the appointment may share the commission with the. Study with quizlet and memorize flashcards containing terms like a client told an intentional lie to an insurer in order to receive a favorable premium This is an example of, which of the following is not considered to be an act of fraud?, an agent is legally permitted to share his/her commissions and more.
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