Controlled Business

This term refers to the amount of insurance countersigned, issued or sold by a producer covering the life, property or interests of that producer, members of the producer's immediate family, or the producer's employer or employees. Many states limit the amount of controlled business that may be written, and if the premium or commissions on controlled business exceed a given percentage (usually 50%) of all business, the producer's license may be suspended, revoked, or not renewed

See Also: Common Policy Declarations; Common Law Liability; Commission; Class (or Classification); Claims Reserve; Certificate of Insurance; Certificate of Convenience; Captive Insurer; Cancelable;

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