Failure to comply with state regulations can lead to serious consequences such as fines, consent orders, and reputational damage. (Credit: AREE/Adobe Stock)
Maintaining compliance is a critical function for insurance retailers, wholesalers and MGAs, but as a cost center it can be difficult to prioritize against revenue-generating activities. Failure to comply with state regulations can lead to serious consequences such as fines, consent orders, and reputational damage.
As agencies expand or merge across state lines, what was once a fairly straightforward process becomes increasingly complex, and the best way to handle it may be to delegate it to a third party.
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