May 06, 2019

A Case for Updated Insurance Licensing Exemption Regulations

By Mark B. Robinson
Insurance Journal

Harken back to 2002 — a time when iPhones, Android phones, even Blackberries, had yet to be introduced. Facebook, Twitter and YouTube were years away from their debuts, and streaming content on Netflix was still a fantasy — though there were approximately 9,000 Blockbuster Video stores open for business.

In 2002, just 9.1 percent of the world’s population used the internet (compare that to 56.1 percent today, according to United Nations data), and there were only 3 million websites. Somewhere in the neighborhood of 2 billion exist today.

A lot has changed over the last 17 years, but not everything. Regulations promulgated by the California Department of Insurance — those issued in 2002 governing conduct that unlicensed employees at insurance agencies and brokerages can engage in — remain unchanged.
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Mark B. Robinson

Co-Founding Partner
Regulatory & Administrative Law
Banking & Financial Services, Insurance