What action is required if an agent's address changes?

When an agent's address changes, it is essential to notify the insurance company immediately. This action is crucial for maintaining clear communication channels and ensuring that all correspondence regarding policies, renewals, and other important matters can reach the agent without delay. Quick notification also helps to avoid any potential issues related to miscommunication or missed updates that could affect clients and their coverage.

The other options do not align with best practices or regulatory requirements. Waiting until the next policy renewal could lead to delays in notifications for important information, while notifying the department within a specified timeframe does not guarantee immediate updates for the insurance company, which is typically necessary for operational efficiency and compliance with industry regulations. Immediate notification ensures that the insurance company's records are current, which is critical for both the agent's and clients' interests.