Insurance Producers, Agents and Third-Party Administrators

What this document is

Connecticut General Statutes Chapter 701a - Insurance Producers, Agents and Third-Party Administrators (Secs. 38a-702a through 38a-720n) is a state statute published by Connecticut General Assembly (cga.ct.gov). It is one of the Connecticut documents that insurance license exam questions are written from, including connecticut life & health, connecticut property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Conn. Gen. Stat. Chapter 701a § 38a-702a(1) (Definition of Agent)

  “(1) “Agent” or “insurance agent” means an insurance producer appointed by an insurer to act on the insurer's behalf pursuant to section 38a-702m .”

• Conn. Gen. Stat. Chapter 701a § 38a-702m (Agent Appointments)

  “An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed agent of the insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed.”

• Conn. Gen. Stat. Chapter 701a § 38a-702k(c) (Discipline of a Business Entity License)

  “The license of a business entity may be suspended, revoked or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the partnership or corporation and the...”

• Conn. Gen. Stat. Chapter 701a § 38a-720f(c) (Collection of Premiums or Charges; Payment of Claims)

  “A third-party administrator shall not pay any claim by making withdrawals from a fiduciary account in which premiums or charges are deposited.”

• Conn. Gen. Stat. Chapter 701a § 38a-702l(c) (Renewal and Deferred Producer Commissions)

  “Renewal or other deferred commissions may be paid to a person, or an heir or assignee of the person, for selling, soliciting or negotiating insurance in this state if the person was required to be licensed under sections 38a-702a to 38a-702r , inclusive, at the time of the sale, solicitation or...”

• Conn. Gen. Stat. Chapter 701a § 38a-702f(c) (Producer licenses: reinstatement after lapse)

  “An individual insurance producer who allows an insurance producer's license to lapse may, not later than twelve months after the due date of the renewal fee, reinstate the same license without being required to pass a written examination, except that a penalty in the amount of double the unpaid...”

• Conn. Gen. Stat. Chapter 701a § 38a-702k(a) (Grounds and Available Actions Against a Producer License)

  “The commissioner may place on probation, suspend, revoke or refuse to issue or renew an insurance producer's license or may levy a civil penalty in accordance with the provisions of this title, or may take any combination of such actions, for any one or more of the following causes: (1) Providing...”

• Conn. Gen. Stat. Chapter 701a § 38a-702a(8) (Definition of License)

  ““License” means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. The license itself does not create any authority, actual, apparent or inherent, in the holder to represent or commit an insurance carrier.”

• Conn. Gen. Stat. Chapter 701a § 38a-702f(a) (Producer Licenses: Lines of Authority)

  “(1) life: insurance coverage on human lives including benefits of endowment and annuities, which may include benefits in the event of death or dismemberment by accident and benefits for disability income; (2) accident and health or sickness: insurance coverage for sickness, bodily injury or...”

• Conn. Gen. Stat. Chapter 701a § 38a-702n(b) (Reciprocity: nonresident continuing education)

  “A nonresident producer's satisfaction of the producer's home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this state's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its...”

• Conn. Gen. Stat. Chapter 701a § 38a-720b(a) (Payments of Premiums or Charges to a Third-Party Administrator)

  “If an insurer or other person utilizes the services of a third-party administrator, the payment of any premiums or charges by or on behalf of an insured to the third-party administrator shall be deemed to have been received by the insurer or other person utilizing the services of the third-party administrator.”

• Conn. Gen. Stat. Chapter 701a § 38a-702d(d) (Examinations: Reapplication After Failure or Nonappearance)

  “An individual who fails to appear for the examination as scheduled or fails to pass the examination shall reapply for an examination and remit all required fees and forms before being scheduled for another examination.”

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More Connecticut sources

• Conn. Gen. Stat. Ch. 700c - Health InsuranceState statute
• Conn. Gen. Stat. Ch. 701a - Insurance Producers, Agents and Third-Party AdministratorsState statute
• Conn. Gen. Stat. Chapter 702 - LicensingState statute
• Conn. Gen. Stat. Ch. 704 - Unfair and Prohibited Practices (Unfair Insurance Practices Act)State statute
• Connecticut General Statutes Chapter 698a - Health Care and Related Service Groups (Secs. 38a-175 through 38a-225)State statute
• Connecticut General Statutes Chapter 699 - Insurance Contracts in General (Secs. 38a-283 through 38a-291)State statute
• Connecticut General Statutes Chapter 699a - Readable Language in Insurance Policies (Secs. 38a-295 through 38a-300)State statute
• Connecticut General Statutes Chapter 700b - Life Insurance, Annuities, Burial Contracts and Life Settlements (Secs. 38a-430 through 38a-465q)State statute