Definition - What does Resident Agent mean?
A resident agent (or statutory agent) is a licensed insurance broker who works in the state where they reside. Resident agents are licensed to sell insurance in the state in which they live and nowhere else.
Insuranceopedia explains Resident Agent
Insurance laws in the U.S. are based on state regulation. So, most insurance professionals, including brokers, are only licensed in their state.
A resident agent is, in a general sense, the company representative for the state.
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