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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A person may do the following only if the person is licensed as an insurance producer or is exempt from licensure under Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries:
(a) solicit, negotiate, or procure liability insurance in this state from a risk retention group;
(b) solicit, negotiate, or procure liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group; and
(c) solicit, negotiate, or procure liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy.
(2)(a) A person may not act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state for a purchasing group from an authorized insurer or a risk retention group chartered in a state unless that person is licensed as an insurance producer, or is exempt from licensure under Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries.
(b) A person may not act or aid in any manner in soliciting, negotiating, or procuring liability insurance coverage in this state for any member of a purchasing group under a purchasing group's policy unless that person is licensed as an insurance producer, or is exempt from licensure under Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries.
(c) A person may not act or aid in any manner in soliciting, negotiating, or procuring liability insurance from an insurer not authorized to do business in this state on behalf of a purchasing group located in this state unless that person is licensed as a surplus lines producer or excess lines producer or is exempt from licensure under Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries.
(3) For purposes of acting as a producer for a risk retention group or purchasing group pursuant to Subsections (1) and (2), the requirement of residence in this state does not apply.
(4) A person licensed pursuant to Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries, on business placed with a risk retention group or written through a purchasing group, shall inform each prospective insured of the provisions of the notice required by Subsection 31A-15-204(7) in the case of a purchasing group.
Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-15-212. Duty of producers to obtain license--Risk retention groups--Purchasing groups - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-15-212/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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