Broker of Record

• A producing agency does not need to be contracted with Indiana Insurance.

• In order to bind an account, LMC will need:
  • A copy of the producing agent's license
  • A copy of the agency's E&O declaration or a certificate of insurance providing proof of E&O coverage (minimum required limit - $1,000,000 with an A.M. Best-rated carrier of A- or better).

• Once we have these documents, we will send you our sub-agent agreement. This document outlines the duties and responsibilities of both the producing agent and LMC in working on the school districts in the program. A signed copy of this agreement is necessary for us to remit commissions to your agency.