What is considered controlled business for an insurance producer?

Controlled business for an insurance producer refers specifically to the insurance that an individual sells to themselves, their spouse, or to their own business. This definition reflects the understanding that producers often have a vested interest in policies that directly affect their own financial and personal circumstances. By allowing these types of transactions, the regulatory framework acknowledges the unique relationship between producers and their own insurance needs, while also ensuring that there is a clear ethical boundary regarding the transactions made.

Selling insurance only to family members does not capture the broader scope of controlled business as it excludes the financial interests tied to one's own business and personal insurance needs. Similarly, insurance sold during a training program would not qualify as controlled business, as those are often educational experiences rather than transactional sales. Lastly, selling insurance exclusively online does not align with the concept of controlled business, as it pertains more to the method of sale rather than the nature of the relationship and interest involved. Therefore, option B accurately encompasses the definition and implications of controlled business within the insurance industry context.