What can lead to the suspension or revocation of an agent's license?

Writing primarily controlled business can lead to the suspension or revocation of an agent's license because it poses a significant conflict of interest and raises ethical concerns. Controlled business refers to the practice of an insurance agent primarily selling policies to themselves, their family, or their business associates. This situation is closely regulated to ensure that agents act in the best interests of their clients rather than prioritizing their own financial gain. If an agent is found to be engaging predominantly in such practices, regulatory authorities may view it as a violation of ethical standards and statutes, thereby justifying suspension or revocation of their license.

In contrast, working with multiple insurers is generally encouraged, as it can promote competition and provide clients with better options. Engaging in educational seminars is a permissible activity that can improve knowledge and skills in the industry. Providing insurance quotes to clients is a standard part of an agent's responsibilities and does not typically lead to disciplinary actions unless coupled with unethical practices.