When must insurers submit an appointment notice to the Commissioner?

Insurers are required to submit an appointment notice to the Commissioner within 15 days of an agent's appointment or the agent's first insurance application. This timeframe is established to ensure that the regulatory body is informed of the agents who are authorized to represent the insurer, facilitating oversight and maintaining consumer protection.

Prompt notification is important for a number of reasons, including ensuring that agents comply with state laws and maintain licensing standards. This requirement helps to prevent unlicensed activity and assures that all individuals providing insurance services meet the qualifications set forth by state regulations.

The requirement specifically ties the notification to both the appointment of the agent and their initial insurance application, recognizing that an agent's engagement with clients can begin with the application process, not just after formal appointments. This dual aspect ensures that oversight is in place as soon as an agent begins interacting with potential policyholders.