Question

In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. This agreement is called a(n)...

Option 1: Partnership Accord
Option 2: Insurance Mandate
Option 3: Producer Pact
Option 4: Agency Agreement

Answer 1

In Maryland, the agreement between an insurance producer and insurer that allows the producer to sell, solicit, or negotiate policies is called an Agency Agreement.

Step-by-step explanation:

In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. This agreement is called a(n) Agency Agreement. The agency agreement establishes the relationship between the insurance producer and the insurer, outlining the responsibilities, commission structure, and other terms of their partnership.