There are certain trade-offs carriers must evaluate when it comes to tracking compliance requirements at a principal agency level versus tracking each individual branch location. 14 states still require carriers to track branch locations, and it is unlikely this requirement will be eliminated anytime soon.
To assist carriers deciding between these different approaches, we offer “Agency Office Compliance Tracking for Carriers: Principal vs. Branch Location,” a white paper that provides expert insights and a detailed comparison of considerations. Differences between each approach center on topics such as:
- Agent change
- Agency coding
- New business license validation
- Sales reporting and commissions
- and more