PART XII. INSURANCE CONSULTANTS
§1808.1. License required
A. No person shall act as, or hold himself out to be, an insurance consultant unless
licensed by the Department of Insurance.
B.(1) "Insurance consultant" means any person or entity which offers for a fee or
other valuable consideration any advice, counsel, opinion, or related services with respect
to risk evaluation or management, the benefits, coverages, exclusions, or provisions under
any policy of insurance to be issued in this state, or involving the advantages or
disadvantages of any such policy of insurance, or any formal plan of managing risk.
(2) "Insurance consultant" for the purposes of this Part shall not include:
(a) Attorneys while working in the capacity of an attorney.
(b) Litigation support or insurance expert witness services related to litigated matters.
(c) Claims adjusters.
(d) Public adjusters, appraisers, contractors, or engineers engaged in the settlement
of insurance claims, who do not have a direct or indirect financial interest in any aspect of
the claim, other than the compensation established in the written contract with the insured.
(e) A licensed insurance producer who offers advice or consulting with respect to any
of the following, regardless of whether the insurance producer is compensated by
commission or agency fees for such advice, consulting, or services:
(i) Risk evaluation or management, risk transfer, self-insurance, self-insured
retention programs.
(ii) The benefits, coverages, exclusions, or provisions under any policy of insurance.
(iii) The advantages or disadvantages of any policy of insurance or plan of managing
risk.
(iv) Any other advice, consulting, or related policyholder services in conjunction
with risk and insurance programs provided as an insurance producer.
(f) Loss control and accident prevention consultants.
(g) Certified public accountants while working in their capacity as an accountant.
(h) Actuaries who are members of the American Academy of Actuaries (MAAA).
Acts 2016, No. 312, §1.