Surplus Lines Broker (Individual & Business Entity)

Definition

SURPLUS LINES INSURANCE BROKER – Any person placing insurance coverage with a non-admitted carrier, after exhausting the admitted market.

Applicable Statutes

C.G.S. §38a-740 to 794 – see Title 38a* Insurance

Fees

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

Duration

Two (2) years – Expires September 30^th every EVEN year..

How to Apply

Residents:

• Residents are required to hold an active/good standing Producer Property & Casualty license in Connecticut.
• No Pre-licensing course is required before taking the Surplus Lines exam.
  • Study Material:
    • Review the Candidate Handbook and Exam Content Outline on Pearson website.
    • Connecticut Statute
    • Connecticut Insurance Regulations
    • Regulation: Service Fees to be Charged by Insurance Producers and Surplus Lines Brokers
• Download the Candidate Handbook and schedule the exam.
• After passing the exam, apply by going to the National Insurance Producer Registry (NIPR).
  (Note: you do not need to submit the passed examination, the Department will verify this information with our vendor.)

Note: The Department does not have a bond requirement to obtain the license.

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).

Note: The Department does not have a bond requirement to obtain the license.

Designated Responsible Licensed Person (DRLP)

A Designated Responsible Licensed Person (DRLP) is a licensed individual designated by a business entity to be responsible for the entity’s insurance license and regulatory compliance.

For license types issued to business entities, a DRLP ensures there is a properly licensed individual accountable for the entity’s insurance activities.

DRLP Required: YES

Business entities applying for or holding a Surplus Lines Broker license must designate at least one DRLP.

The DRLP must:

• Hold an active Connecticut insurance license (resident or non-resident)
• Hold a license type that corresponds to the business entity’s license
• Be listed in the NIPR application/record for the business entity

There is no limit to the number of DRLPs a business entity may designate.

How to Renew

• Renewal notices are EMAILED about 90 days before the expiration date.
• Apply on the National Insurance Producer Registry (NIPR).

How to Amend Lines of Authority

Not applicable.

How to Reinstate a License

After a license has been cancelled for two (2) years or more, residents are required to successfully pass the applicable examination prior to submitting a reinstatement application through the National Insurance Producer Registry (NIPR).

How to change License information (ie.: email and address)

Update your License Information

Print a copy of the license

Search and print a license

Initial Education Requirements

• No pre-licensing course is required.
• Residents must hold an active/good standing Producer Property & Casualty license in Connecticut.

Waivers due to Designations

None

Renewal Continuing Education (CE) Requirements

Connecticut does not require CE for any Surplus Lines Broker.

Cancel License

License Voluntary – Surrender Request

Important Information

Surplus Lines Broker - Tax Return FAQ's (Individual and Business Entity)

This license type does not require fingerprints.