In Maryland, which individuals must be licensed to engage in insurance transactions?

• A. Those selling insurance
• B. Advising the public about insurance products
• C. Both selling insurance or advising the public
• D. Underwriters

Answer: (C)

In Maryland, licensure is required for anyone who transacts insurance with the public. Transacting includes not only selling or soliciting insurance but also advising the public about insurance products. So, someone who sells insurance must be licensed, and someone who provides advice about insurance products to consumers must also be licensed. Underwriters, who work inside an insurer to assess risk and determine eligibility and pricing, typically don’t transact with the public by selling or advising on policies, so they usually don’t need a producer license. That’s why the best answer is that both selling and advising require licensing.