Which action is required when there is a change in address for an individual or agency insurance producer licensee?

Which action is required when there is a change in address for an individual or agency insurance producer licensee?

• A. The commissioner must be notified within 10 days
• B. The producer's license will be automatically corrected and reissued
• C. The producer's license must be returned for cancellation
• D. The commissioner must be notified within 30 days

Answer: (D)

Keeping the regulator informed of current contact information is essential for communication and compliance. When an individual or agency producer changes address, the licensee must notify the commissioner within 30 days. This ensures that all license-related correspondence—renewal notices, disciplinary actions, and other important information—reaches the licensee and is properly recorded. The other options don’t fit because a change of address isn’t handled by a 10-day notice, there’s no automatic correction and reissuance of the license for an address change, and there’s no requirement to return the license for cancellation simply due to a change of address. Notifying within 30 days keeps the license in good standing and communications current.

Keeping the regulator informed of current contact information is essential for communication and compliance. When an individual or agency producer changes address, the licensee must notify the commissioner within 30 days. This ensures that all license-related correspondence—renewal notices, disciplinary actions, and other important information—reaches the licensee and is properly recorded. The other options don’t fit because a change of address isn’t handled by a 10-day notice, there’s no automatic correction and reissuance of the license for an address change, and there’s no requirement to return the license for cancellation simply due to a change of address. Notifying within 30 days keeps the license in good standing and communications current.