Key Takeaways
- Oklahoma producers must act in the best interest of clients
- Producers must disclose compensation arrangements and conflicts of interest
- Trust funds and premiums must be handled according to strict requirements
- Producers must maintain accurate records
- Continuing education includes ethics requirements
Last updated: January 2026
Producer Conduct and Fiduciary Duties
Oklahoma insurance producers have legal and ethical obligations to their clients and the public.
Producer Duties
Insurance producers owe duties to their clients:
Key Duties
| Duty | Description |
|---|---|
| Loyalty | Put client's interests first |
| Disclosure | Reveal all material information |
| Competence | Maintain professional knowledge |
| Confidentiality | Protect client information |
| Good Faith | Act honestly in all dealings |
Handling of Funds
Producers must handle premiums and client funds according to strict rules:
Premium Collection
| Requirement | Rule |
|---|---|
| Deposit | Promptly to insurer or trust account |
| Commingling | Cannot mix with personal funds |
| Trust Account | Required for holding premiums |
| Records | Must maintain detailed records |
Consequences of Mishandling
- License suspension or revocation
- Required restitution
- Civil liability
- Potential criminal charges
Test Your Knowledge
What is the consequence of an Oklahoma producer commingling client funds with personal funds?
A
B
C
D