If a licensee or endorsee violates any provision of the credit insurance agent law or any other provision of the Insurance Code, the Commissioner may do either of the following:
(1) After notice and hearing, suspend or revoke the license of the credit insurance agent.
(2) After notice and hearing, impose other penalties that the Commissioner deems necessary and convenient to carry out the purposes of the credit insurance agent law, including suspending the privilege of transacting credit insurance at specific business locations where violations have occurred, imposing fines on the credit insurance agent, individual endorsees or endorsee managers, and suspending or revoking the endorsement of a named endorsee or endorsee manager.
If any person sells insurance in connection with or incidental to a loan or other extension of credit or holds himself or herself or an organization out as a credit insurance agent without obtaining the license required by the credit insurance agent law, as being an endorsee when that person is not an endorsee, or as being licensed without obtaining that license, the Commissioner may issue a cease and desist order.
These violations are applicable to both the organization issued a license pursuant to the credit insurance agent law and any endorsee to that license.
* Section 1758.95 of the California Insurance Code.
- How Can I Get a License?
- Prohibited Acts
- Checklist for Application Filing Requirements
- Credit Insurance Questions and Answers
- Return to Credit Insurance Agent License Main Page
If you have any questions about the Credit Insurance Agent License information you are reviewing, please read the most commonly asked questions in our Credit Insurance Agent License Questions and Answers section. If you need further assistance, please call CDI's Producer Licensing Bureau at (800) 967-9331 or send an e-mail to Producer Licensing Bureau. Please be sure to include your name, telephone number, license number and e-mail address in all correspondence with the CDI.