What must insurers do within 15 days of notifying the Commissioner of a termination?

Insurers are required to mail a copy of the termination notice to the agent within 15 days of notifying the Commissioner. This requirement is in place to ensure transparency and effective communication between the insurer and the agent. The purpose of dispatching this notice is to formally inform the agent of their termination and provide them with documentation regarding the decision. This process helps maintain a level of professionalism in the relationship and allows the agent to understand the circumstances surrounding their termination.

By ensuring that the agent receives a copy, the insurer adheres to the regulatory obligations that govern their conduct and protects the agent's rights. This practice also serves to mitigate disputes by providing clear documentation of the termination decision.