Common use of Responsibilities of Producer Clause in Contracts

Responsibilities of Producer. A. Producer shall: (1) promote Products in accordance with the terms of this Agreement; (2)comply with all applicable state and federal laws, as well as the rule and regulations of the appropriate regulatory agencies including but not limited to the Health Insurance Portability and Accountability Act (HIPAA), the U.S. Patriot Act, and the Employee Retirement Income Security Act (ERISA); (3) hold and maintain in good standing any and all required licenses and registration necessary to perform the Producer’s duties of this Agreement; (4) immediately notify Company in writing of the loss of any required license or registration; (5) abide by all Company rules, guidelines, policies and procedures; (6) review each application for Products to ensure that the facts set forth by each subscriber is true and correct; (7) promptly forward all applications found complete together with the full amount of initial Premium received with the applications to Company (Producer shall not submit any information to Company that Producer knows or should reasonably know to be false or misleading); (8) fully inform each applicant that in no event shall the applicant have any coverage unless and until the application is reviewed and approved by Company and a policy is issued; (9) promptly notify Company of any material complaint or inquiry that may involve Company, (10) Producer shall not impose or collect any fees or charges on policies unless lawful and disclosed in writing, and (11) Producer shall immediately notify Company of any verbal or written notice of any claim or loss relating to a policy. Produce shall cooperate with Company or any designated adjuster or administrator in the investigation, adjustment, settlement and payment of any and all claims relating to policies. B. Producer shall be responsible to Company for: (1) the fidelity and honesty of any and all producers/agents; (2) for all Premiums collected by producer/agents for Company business entrusted to Producer; (3) authorizing the Company to conduct criminal or credit background screenings of Producer and its personnel, who, either in person or via telephone may have contact with applicants; and (4) immediately provide Company with written notification of any state or federal conviction by producer/agents, whether occurring before or after the Effective Date of this Agreement, to ensure Company’s compliance with the Federal Violent Crime Control and Law Enforcement Act of 1994.