At what point must a producer notify the commissioner about the use of an assumed name?

A producer must notify the commissioner before using an assumed name to ensure compliance with regulatory requirements. This proactive step is essential as it allows the commissioner to oversee and maintain the integrity of the insurance industry, preventing any potential confusion or misrepresentation to consumers. By requiring prior notification, the commissioner can evaluate the assumed name and its suitability, thus safeguarding both the interests of the public and the licensed producers.

This requirement is designed to uphold transparency and accountability, ensuring that all parties involved are aware of the names under which a producer is conducting business. Understanding this regulation is crucial for producers to maintain their licenses and operate within legal boundaries. Notifying after usage or during annual renewals may lead to issues with compliance and potentially jeopardize a producer's standing with the regulatory authority.