Legality of Insurance Agent Referral / Sponsor Fees California

[Cal_Agent]

I am a licensed insurance agent in California and am trying to find out if the following marketing program would be legal.

I have been selling notary bonds and it has been really slow. So I thought of the following.

I want to work with a Notary Continuing Education Provider where they will offer a discount from the regular continuing education class price if the student gets a quote for a bond with me. I would essentially be sponsoring the education provider for the difference between what the student would normally pay for the class and the discounted class for sending me customers who get a quote.

If the student decides not to get a quote, they would have to pay the full price of the class.

Does anybody know if it is legal and where I can find the law on this?

Thank you.

 

[arnguy]

Re: Legality of Insurance Agent Referral / Sponsor Fees Californi

Rick, you take this one.

 

[HarryRenard]

Re: Legality of Insurance Agent Referral / Sponsor Fees Californi

Does it really matter if it is legal or not, if it really isn't a good idea?

 

[Bertolinoins]

Re: Legality of Insurance Agent Referral / Sponsor Fees Californi

Going back to if it is a good idea or not... I just had my office manager become a notary and it cost $203 for the training including her bond and E&O. The $15K bond was $38. How much of that commission do you plan on rebating? Even doing huge volume that seems like a really hard way to make a living. Why do it?