When speaking with our clients regarding insurance licensing, we find there is confusion regarding a Designated Responsible Licensed Producer. We thought it would be helpful to explain what a Designated Responsible Licensed Producer is and how it relates to the insurance licensing process. Keeping the state insurance department informed of your agency’s current Designated Responsible Licensed Producer is a vital part of agency insurance licensing.
- A designated responsible licensed producer (DRLP) is a producer designated by a business entity to ensure compliance with the laws, rules and regulations of the state.
- Most states allow more than one Designated Responsible Licensed Producer.
- The business entity must have a Designated Responsible Licensed Producer licensed for each line of authority on the business entity insurance license.
- If the Designated Responsible Licensed Producer is no longer associated with the business entity, the state must be notified of the new DRLP.
- Failure to have all lines of authority on a business entity insurance license matched by a line of authority on a Designated Responsible Licensed Producer’s license can result in removal of that line of authority on the business entity insurance license.
Does your agency or business entity struggle with insurance licensing? If so, Supportive Insurance Services can provide you with the help you need. Call Jeff Brinkmann today at 317-257-5734 or fill out the form below for assistance.