3 CCR 702-1-2-10-8 - Designation of Responsible Producer, Responsible Public Adjuster and Agency Registration of Producers

A. Pursuant to § 10-2-404(2)(a) through (f), C.R.S., each agency must designate and register the following:

1. Responsible Producer.

Each insurance agency must designate and register a licensed producer who is an officer, partner, or director and who will be responsible for the insurance agency's or business entity's compliance with the laws and rules of Colorado.

2. All Licensed Officers, Directors, Partners, or Owners.

Each insurance agency is also required to register each person who, as an officer, director, partner, owner, or member of the agency or business entity, and is acting as and is licensed as an insurance producer. In addition, agencies are also required to disclose all officers, partners, and directors, whether or not they are licensed as insurance producers.

3. Registration of Producer for Each Line of Authority Held by the Agency.

Each insurance agency or business entity must register at least one (1) individual who holds a valid insurance producer license for the line or lines of authority for which the insurance agency or business entity is licensed.

4. Employees.

Each Insurance agency must also register with the Division the name of each employee that is acting as and is licensed as an insurance producer with the agency.

B. Pursuant to § 10-2-417(1)(c), C.R.S., a business entity acting as a public adjuster must be licensed and must designate a licensed public adjuster who is responsible for the business entity's compliance with the insurance laws and rules of Colorado.

C. The insurance agency or business entity shall, within ten (10) days, notify the Commissioner of any change relative to the insurance agency or business entity name, officers, directors, partners, or owners; to report a merger; or that the insurance agency or business entity has ceased doing business in Colorado. The procedures for reporting this information shall be included in the Candidate Handbook.

Notes

3 CCR 702-1-2-10-8

37 CR 11, June 10, 2014, effective 6/30/2014 37 CR 11, June 10, 2014, effective 7/1/2014 38 CR 09, May 10, 2015, effective 6/1/2015 38 CR 20, October 25, 2015, effective 11/15/2015 40 CR 19, October 10, 2017, effective 11/1/2017 40 CR 21, November 10, 2017, effective 12/1/2017 40 CR 21, November 10, 2017, effective 1/1/2018 41 CR 21, November 10, 2018, effective 12/1/2018 43 CR 21, November 10, 2020, effective 12/1/2020 45 CR 21, November 10, 2022, effective 11/30/2022