As used in this article: “Insurance consultant” means any individual or business entity who acts as an independent contractor in relation to his client and for a fee or compensation, other than from an insurer or agent or surplus lines broker, advises or offers or purports to advise, as to life and health or property […]
A. No person, unless he holds an appropriate license shall: 1. Represent to members of the public that he provides planning or consulting services beyond those within the normal scope of activities of a licensed insurance agent; or 2. Except as provided in § 38.2-1812.2, charge or receive, directly or indirectly, a fee or other […]
A. A licensed insurance consultant that does not sell, solicit or negotiate insurance as part of his services shall enter into a written contract with his client prior to any act as a consultant in this Commonwealth. A licensed insurance consultant that does sell, solicit or negotiate insurance in this Commonwealth as part of his […]
A. Beginning January 1, 2021, each insurance consultant shall submit biennially to the Commission a renewal application in a form and manner prescribed by the Commission, along with a nonrefundable renewal application processing fee prescribed by the Commission, for the renewal of the license. Licenses shall be renewed biennially based on the insurance consultant’s month […]
A. A license issued to an individual insurance consultant shall authorize him to act as an insurance consultant until his license is otherwise terminated, suspended, or revoked. B. A license issued to a business entity shall authorize such business entity to act as an insurance consultant until such license is otherwise terminated, suspended, or revoked. […]
A. Each licensed insurance consultant shall report within 30 calendar days to the Commission any change in his residence address, email address, or name. B. In addition to the requirements of §§ 59.1-69 and 59.1-70, any individual or business entity licensed as an insurance consultant in the Commonwealth and operating under an assumed or fictitious […]
The Commission may, in addition to or in lieu of a penalty imposed under § 38.2-218, place on probation, suspend, revoke or refuse to issue or renew any person’s license for any one or more of the following causes: 1. Providing materially incorrect, misleading, incomplete or untrue information in the license application or any other […]
A. If the Commission is of the opinion that any applicant for an insurance consultant’s license is not of good character or does not have a good reputation for honesty, it may refuse to issue the license, subject to the right of the applicant to demand a hearing on the application. The Commission shall not […]
A. An individual or business entity who is not a resident as defined in § 38.2-1800, but who is a resident of another state, territory, or province of Canada, shall receive a nonresident insurance consultant license if: 1. The applicant presents proof in a form acceptable to the Commission that the applicant is currently licensed […]
