The following matters are "good cause" for an insurance company to terminate the contractual relationship with its agent:
(a) Criminal misconduct or gross negligence relating to the business or premises of the insurance agency;
(b) Fraud or moral turpitude;
(c) Abandonment or unattendance of the business or premises of the insurance agency for such period of time as may unreasonably interfere with the transacting of business;
(d) The failure by the agent to pay moneys over to the company for insurance contracts sold by the agency;
(e) The death or disability of the agent; and
(f) Upon the company becoming insolvent or discontinuing any line of insurance for any business purpose: Provided, That the insurance commissioner shall notify or cause to be notified in writing all agents of such insolvent insurance company that they are no longer entitled to any benefit under their contract with the insolvent company.
Note: WV Code updated with legislation passed through the 2016 Regular Session
The West Virginia Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.