The concept of trust account (TA) management has no meaning to many professionals, or they have no uniform understanding of it. There are no text books or college classes on insurance TA management, and insurance-based publications seldom organize discussions to …
Unlike other sales and service companies, independent insurance agencies have a management function in their daily operations. Most property and casualty insurance agencies agree not only to sell and service insurance products, but they also receive transacted premiums, maintain them …
Unlike other sales and service companies, independent insurance agencies have a management function in their daily operations. Most property and casualty insurance agencies agree not only to sell and service insurance products, but they also receive transacted premiums, maintain them …
California Insurance Code requires property and casualty insurance agencies to receive premiums and return premiums in a fiduciary capacity. Return premium funds must be maintained in a separate trust bank account and refunded to insureds or finance companies without delay. …
California Insurance Code requires P/C insurance agencies to receive premium funds in a fiduciary capacity. Producer agencies are allowed to transfer earned commissions upon receipt of premium payments. Due to the fiduciary nature of premium funds the transfer of earned …
