Producer Code
A carrier-assigned unique identifier tied to a licensed producer or agency location, used to attribute new business, renewals, and commission payments.
FAQs
- Can one producer have multiple codes with the same carrier?
- Yes. Carriers sometimes issue separate codes for different agency locations, different lines of authority, or different program markets within the same carrier. An agency with three office locations may have three separate codes with the same carrier to attribute production and commissions by location.
- What happens to producer codes when an agency is acquired?
- Producer codes must be formally transferred to the acquiring agency through each carrier's appointment process. This typically requires submitting new agency appointment applications, obtaining state regulatory approval where required, and confirming with each carrier that policies under the old codes have been transferred to the new agency's codes.
Related Terms
Commission Tracking
The process of recording, reconciling, and reporting insurance commissions owed and received, including carrier statement matching and discrepancy resolution.
Producer Management
The administrative and performance oversight functions applied to licensed producers, including goal-setting, compensation plans, and production reporting.
Split Commission
A commission arrangement in which revenue from a single policy is divided between two or more producers, brokers, or agencies based on agreed terms.
Carrier Connectivity
The technical integration between an agency's AMS and carrier systems enabling policy downloads, real-time quoting, and data synchronization.
