What is required for an agent conducting business under an assumed name?

When an agent conducts business under an assumed name, it is essential to notify the Bureau of Insurance. This requirement is in place to ensure transparency and accountability within the insurance industry. The Bureau of Insurance maintains a record of agents and their business names, enabling consumers to verify the legitimacy of the agent they are dealing with. Notification helps prevent confusion and protects consumers from potential fraud, as it clearly identifies which agents are authorized to do business under specific names.

While other options may seem relevant, they do not align with the specific legal requirements governing the use of assumed names in the insurance profession. For instance, filing a formal complaint is typically not related to the process of using an assumed name but rather to report misconduct or disputes. Similarly, obtaining a special license may not be necessary for operating under an assumed name, as it is primarily the notification to the Bureau that is required. Registration with the state government might also be relevant depending on the jurisdiction, but the critical step is, indeed, notifying the Bureau of Insurance.