Question

A producer who places insurance with an insurer, either directly or indirectly, with whom the producer does not have an agent contract

A: is grounds for license revocation.
B: requires a special limited license.
C: requires that the producer must post a surety bond in favor of the people of Illinois.
D: must pay a state fee based on volume of business placed with such an insurer.

Answer 1

A producer who places insurance with an insurer without an agent contract requires a special limited license.

Step-by-step explanation:

A producer who places insurance with an insurer, either directly or indirectly, with whom the producer does not have an agent contract requires a special limited license. This means that the producer needs to obtain a license specifically for placing insurance with that insurer. Without this special license, the producer would not be authorized to place insurance with the insurer. It's important for insurance producers to have proper licenses and contracts to ensure compliance with the regulations and requirements of the insurance industry.