Who can suspend or revoke an agent's license?

The state insurance department has the authority to suspend or revoke an agent's license. This power is granted to ensure that all licensed insurance agents operate within the legal and ethical guidelines set forth by state laws. The state insurance department oversees the regulation of insurance professions, ensuring compliance with relevant statutes and protecting consumers. If an agent engages in misconduct, fraud, or other violations of insurance laws, the state can take disciplinary action, which includes the suspension or revocation of the agent's license.

In contrast, the insurance company does not have the jurisdiction to revoke an agent's license; their relationship is contractual but does not extend to licensing authority. Policyholders also lack this power, as they cannot revoke licenses but instead may file complaints or seek remedies against agents or insurers. Finally, agents themselves cannot unilaterally suspend or revoke their own licenses, as that decision is governed by state regulatory authorities.