Within how many days must a surplus lines agency notify the Department of the name and license number of each agent it hires?

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Multiple Choice

Within how many days must a surplus lines agency notify the Department of the name and license number of each agent it hires?

Explanation:
Surplus lines agencies must keep the Department informed about who is licensed to place surplus lines business. When a new agent is hired, the agency must notify the Department of that person’s name and license number within 30 days. This helps ensure the person is properly licensed and that the Department’s records are up to date so supervision and enforcement can be effective. Reporting sooner than 30 days (like 10 days) would be unnecessarily tight for administrative processing, while reporting after 60 or 90 days delays oversight and could leave unlicensed activity unchecked.

Surplus lines agencies must keep the Department informed about who is licensed to place surplus lines business. When a new agent is hired, the agency must notify the Department of that person’s name and license number within 30 days. This helps ensure the person is properly licensed and that the Department’s records are up to date so supervision and enforcement can be effective. Reporting sooner than 30 days (like 10 days) would be unnecessarily tight for administrative processing, while reporting after 60 or 90 days delays oversight and could leave unlicensed activity unchecked.

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