Insurance is a heavily regulated industry with complex requirements. Anyone working as an insurance agent or broker or company, or establishing an insurance-related business, must obtain the right license (or multiple licenses) before beginning to sell products or services. And this needs to be done for every state in which one plans to operate.
Failure to comply with business license laws could result in blocked commissions, fines, and the suspension or revocation of future business licenses. This Insurance Compliance Smart Chart identifies the regulatory and licensing requirements by state and sector related to the insurance business.
