Reinsurance Intermediary (Broker & Manager)

Definition

REINSURANCE INTERMEDIARY – Any Individual, legal entity or business trade name, other than an officer or employee of the ceding insurer, who or which solicits, negotiates or places reinsurance cessions or retrocessions on behalf of a ceding insurer, without the authority to bind reinsurance on behalf of such insurer. (REF: C.G.S. §38a-750 to 759)

REINSURANCE INTERMEDIARY MANAGER – Insurance for the repair or replacement of a portable electronic device because of loss, theft, mechanical failure, malfunction, damage or other similar causes of loss. It does NOT include:

  • an employee of the reinsurer,
  • a US manager of the US branch of an alien reinsurer,
  • an underwriting manager which, pursuant to contract, manages all or part of the reinsurance operations of the reinsurance operations of the reinsurer, is under common control with the reinsurer, subject to sections §38a-129 to 140 inclusive, and whose compensation is not based on the volume of premiums written,
  • the manager of a group, association, pool or organization of insurers which engages in joint underwriting or joint reinsurance and who are subject to examination by the insurance commissioner of the state in which the manager's principal business office is located.

Applicable Statutes

C.G.S. §38a-750 to 759 – see Laws and Regulations

Fees

Initial: $675.00
Reinstatement: $675.00
Renewal: $625.00
No pro-rating, non-refundable $50.00 application fee.

Duration

Two (2) years – Expires December 31st every EVEN year.

How to Apply

Residents:

Non-Residents:

  • Connecticut will grant reciprocity with an equivalent license in your home/resident state.
  • Apply by going to the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”

Residents and Non-Residents must also submit the following:

  • Power of Attorney form (see Important Information section below to obtain correct form)
  • Email the document to the Department at: cid.licensing@ct.gov, Attn: Reinsurance Intermediary application. Be sure to include the applicant's name and the NIPR transaction number.

How to Renew

How to Amend Lines of Authority

Not applicable.

How to Reinstate a License

After December 31st every EVEN year, reinstate the license by going to the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”

How to change License information (ie.: demographics)

Update your License Information

Print a copy of the license

Search and print a license

Initial Education Requirements

Not applicable.

Waivers due to Designations

Not applicable.

Renewal Continuing Education (CE) Requirements

Not applicable.

Cancel License

License Voluntary – Surrender Request

Important Information