Chris Marinescu

Owner and Developer of Insurance Trust Accounting Technology
President of Paulmar Group LLC, Software Developer and Trust Accounting Service Provider Company
California Department of Insurance- approved Class Instructor
Author of several published articles by Insurance Journal and other outlets on insurance trust accounting and financial management
Master Degree in Civil/Structural Engineering and Engineering Economics
Insurance Fiduciary Duty and Trust Accounts
P&C insurance agents & brokers are mandated by state laws to receive transacted premiums in a fiduciary capacity, that is, not as owners but "trustees" or "custodians" of premium funds. Fiduciary relationship of independent agents and brokers with the owners of premium funds defines the essence of insurance fiduciary duty. Premiums and return premiums must be maintained in a "trust" bank account, separate from the agency business operating funds, and be disbursed only to their legal owners.