Purpose: Maintaining state mandated insurance Licenses and corporate registrations, as required, to ensure compliance with the requirements for operations.
"You will be licensed and comply with the law."
Licensing and maintenance of your office licenses for both your business and employees are a critical part of your business. Each state has different procedures for licensing, license renewals and maintenance of those licenses. The functions of a licensee can be defined differently from state to state, and laws can change without notice. It is important to work with your local representative on these nuances to maintain the proper protocols.
Here are some questions that you need to ask when establishing your licensing procedures, as well as our suggestions and solutions.
Research your state insurance laws to be sure your licensing practices are in compliance and set a regular repetitive schedule for reviewing to be sure all your licensing issues, Company and Individual, are current.
Responsibility within your company should be assigned to one or more persons to document the review date for both the Company and the Individual employees of the company. This includes processes for notifying both applicable agencies and underwriters when an employee is terminated and no longer has any authority within your title agency.
Reviews of licensing information should be done on at least a yearly basis. The review should confirm the questions above and provide the who/when/how the review was completed.
Our Agency Representatives can help you identify where to find the resources for the state specific requirements for licensing and procedures for renewals, if any. These resources can be your State's Department of Insurance, a State's Secretary of State Office, or other Licensing Entity. Below you will find links to these various offices to help you start your Best Practices, Pillar 1 review.
For more information on how we can help you establish the necessary processes related to this best practice contact your local FNF Agency Representative.
Please login, if you are an FNF Agent, for the Tools and Resources to complete this pillar on your own.
