January 26th, 2012
On January 23, 2012, The Office of the Commissioner of Insurance of Puerto Rico began using State Based Systems (SBS) and implementing streamlined licensing processes. SBS allows applicants to submit, view and print license information on a 24/7 basis.
For more information on these changes, go to: http://www.statebasedsystems.com/PRAnnouncement.pdf.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing, licensing compliance, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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January 25th, 2012
Effective January 1, 2012, the North Carolina Department of Insurance now offers the two new business entity license types:
• Portable Electronics Limited Lines license
• Surplus Lines Business Entity license
Additional information and Frequently Asked Questions (FAQS) for both these new licenses are posted on the Department’s website www.ncdoi.com at http://www.ncdoi.com/ASD/ASD_Agents_Adj_Legislation.aspx
Contact Agent Services Division at (919) 807-6800 for further information.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate licensing, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing compliance, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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January 19th, 2012
Effective 1-1-12, South Carolina Department of Insurance no longer requires non-residents to pay the continuing education fee to Prometric.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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January 18th, 2012
The Georgia Office of the Commissioner of Insurance (OCI) now requires the documents listed below be included with every licensing application. Documents may be submitted electronically.
(a) a signed and notarized copy of the Citizenship Affidavit Form; and
(b) a copy of one (1) secure and verifiable identification document.
All applicants are required to submit these two (2) documents before an application can be processed. If applying on behalf of a corporation, partnership, or other business entity, an employee or officer of the entity, who has authority, must complete and submit these documents.
In addition, if the applicant (or the employer or officer with authority for a business entity) is not a United States citizen, the OCI is required by law to verify the applicant’s immigration status through the Federal Systematic Alien Verification of Entitlement (SAVE) program.
MAILING INSTRUCTIONS
Submit the two (2) required documents referenced above with the license, permit, registration or certification documents as required by the application instructions to the mailing address (if paper) or email address (if digital) specified in the application instructions.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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January 17th, 2012
The Oregon Department of Consumer and Business Services requires all vendors who sell or lease portable electronics devices, such as cell phones or electronic tablets, must obtain a limited insurance producer license, prior to issuing, selling, or offering portable electronics insurance coverage to customers, effective Jan. 1, 2012.
The licensing structure will allow for the licensed entity (such as large retailers) to maintain the license. Individual sales staff will not be required to obtain individual licenses as long as certain conditions are met.
Contact the Department for further information.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, agent licensing services, corporate registrations, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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January 16th, 2012
The California Insurance Code (CIC) was amended to state every insurance producer who sells annuities must complete eight hours of training before soliciting annuities. Four hours of annuity training must be completed prior to each license renewal.
Insurance producers who sell annuity products must complete the insurer’s product-specific training prior to January 1, 2012. Any insurance producer who has not completed this requirement is precluded from selling those annuity products until the product-specific training is completed.
For further information, contact the Producer Licensing Bureau at https://interactive.web.insurance.ca.gov/pli/servlet/Information or call the CDI’s Producer Licensing Bureau at (800) 967-9331 or (916) 322-3555. Include name, telephone number, license number and e-mail address in all correspondence with the CDI.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate licensing, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
Posted in Insurance, Insurance Licensing, Insurance Licensing Reminder, Insurance Licensing Services | Comments Off
January 5th, 2012
New Hampshire no longer requires any adjuster with a state to state residence change to complete a new application and submit the amendment fee of $50. Effective January 1, 2012, a paper address change form and a $10 address change fee are still required. The form can be found on the Department’s website on the ‘PRODUCER/ADJUSTER’ page.
State to State changes are not allowed through the online address change options with NIPR or SBS. In addition, licensed nonresident adjusters changing residence to New Hampshire are required to pass the state laws and regulations portion of the adjuster exam and relinquish their “resident license” in their former state. A Clearance letter is not required if license information can be verified on the national database. Address changes within the same state can be processed through NIPR at www.nipr.com or SBS www.statebasedsystems.com.
New Hampshire began accepting the “designated home state” for adjusters that live in states without a resident adjuster license effective January 1, 2011. The address change form can also be used to select a designated home state or licensees may email the request to producerquestions@ins.nh.gov. There is no fee to designate a home state.
The Department is eliminating paper renewal notices. Licensees will be required to keep the Department informed of their current business email address. Licensees are responsible for renewing the license even if the renewal notice is not received. Individuals and Business entities can update the information by using the State Based Systems, www.statebasedsystems.com or the direct links listed on the Department’s website.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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December 28th, 2011
Is the NAIC a trade association or an organization that sets standards? The NAIC is scheduled to vote on changing its description to “standard-setting and regulatory support organization.”
The NAIC’s initiative is stirring up a lot of controversy. While the NAIC acts as a national forum for discussing common issues, interests and working cooperatively on regulatory matters, do they have the authority to set standards? Or do they propose model laws that must be passed by state legislatures and governors?
The NAIC has historically been more than a trade association. However, do they set standards or is there another more accurate description of the NAIC to be had? Stay tuned.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing services, insurance producer, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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December 27th, 2011
The Florida Department of Financial Services, Division of Agent and Agency Services, made some important changes to the appointment process its eAppoint system. The changes will take place on the evening of January 18, 2012. Here is a summary of the changes.
- Appointment Renewals When a Licensee Has an Invalid Address
Insurance companies will not be able to renew licensee’s appointments if the licensee/appointee has an invalid address (email, home, business and mailing) on file with the Department. The licensee must update the address(es) in their MyProfile account before the appointment can be renewed.
- Late Fees for Late Original and Late Renewal Appointments
The Florida Department of Financial Services we will begin assessing appointing entities the $60 appointment fee for each initial/original appointment as well as a $250 late fee for appointments submitted more than 45 days before the submittal date.There will also be a $25 late fee for each appointment renewed after the renewal month. Florida Statues require the late fees to be paid by the appointing entity and cannot be charged back to the appointee.
- Appointment Renewal Timeline and Notification ChangesThe Florida Department of Financial Services will begin sending email notifications to appointing entities 90 days before an appointment is due to renew. The appointing entity’s eAppointment account will show the renewal posting as well as an indication of any appointee with an invalid address. A similar email notification will be sent to an insurance agency that has appointed a customer service representative. The email serves as a reminder for the appointing entity to make modifications to the list of appointments they will be renewing such including reminding any appointee with an invalid address to update it with the Department.
The appointing entity will be sent an email notification on the first day of the renewal month informing them they can access the appointment(s) to be renewed and make payment via eAppoint.
On the first day of the month following the expiration date of an appointment, an email notification will be sent to the appointing entity advising payment was not received, late fees have been assessed, and the invoice will continue to be available for 45 more days for payment, including late fees, otherwise the appointment will be cancelled. If the appointment is not renewed after this 45-day period, the appointment will be cancelled for non-renewal and an email notification will be sent to the appointing entity and the licensee notifying them of the appointment cancellation along with information on the process for reappointment and the late fee.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance compliance, insurance licensing, insurance licensing services, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, Supportive Insurance Services, surplus lines licensing
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December 20th, 2011
The Dodd-Frank Wall Street Reform and Consumer Protection Act requires comments (due yesterday) for a statutorily required report by Federal Insurance Office (FIO) to Congress in early 2012.
Some comments received from insurance companies and trade groups suggest the FIO streamline licensing and make changes to the state regulatory system to end duplicative and overlapping regulation. Comments also suggested support of NARAB II for full reciprocity and uniformity in the agent licensing process.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
This information is brought to you by Supportive Insurance Services… Licensing Experts Saving You Time and Money!
Tags: adjuster licensing, agency licensing, agent licensing, corporate registrations, insurance broker, insurance compliance, insurance licensing, insurance licensing services, insurance producer, license processing, licensing maintenance, non-resident licensing, nonresident licensing, producer licensing, suplus lines licensing, Supportive Insurance Services, surplus lines broker
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