Requiring insurance producers to disclose to customers quotes from all insurance companies contacted on behalf of the customer and the amount of premium and coverage quoted by each company before customer purchase of new policies or renewal of existing policies; requiring risk managers to disclose compensation received from insurers providing quotes to the risk manager for insurance to policyholders, defining risk manager; imposing penalties and remedies for failure to comply with the disclosure requirements; requiring producers to serve the interests of the client, prohibiting the use of knowledge gained in the insurance relationship for personal gain
(mk)