Producer (Business Entity)
Definition
PRODUCER LICENSE – Authority to solicit, negotiate or sell Life, Accident & Health or Sickness, Property & Casualty, Personal Lines insurance, Variable Life/Variable Annuity, Credit and/or Limited Lines Travel coverage.
Applicable Statutes
C.G.S. §38a-702 to 782 – see Title 38a* Insurance
Fees
Initial: $130.00
Amendment: $130.00
Reinstatement: $130.00
Renewal: $160.00
Late Renewal: $160.00 for a total of $320.00
No pro-rating, non-refundable $50.00 application fee.
Duration
Two (2) years – Renews January 31st every EVEN year.
How to Apply
Apply by going to the National Insurance Producer Registry (NIPR).
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.
DRLP Required: YES
Business entities applying for or holding a Producer 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 on the business entity's record through NIPR
There is no limit to the number of DRLPs a business entity may designate.
Important Producer License Rule
If the business entity holds a standard lines Producer license (Property & Casualty, Life, Accident & Health or Sickness, or Personal Lines), the DRLP must also hold at least one of those standard lines’ authorities.
An individual who only holds Credit, Travel, and/or Crop lines of authority cannot serve as the DRLP for a Producer business entity licensed for standard lines.
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
- Apply on the National Insurance Producer Registry (NIPR).
- Note: If you need to amend the entity's license and are within the renewal window (90 days prior to your license expiration date) you must renew the existing license prior to adding any new line of authority. If you try to add a new line of authority prior to renewing your license, the application will be rejected.
How to Reinstate a License
- To reinstate the license for up to one (1) year after expiration date, you will be required to pay a late fee of $160.00, for a total of $320.00. Apply by going to the National Insurance Producer Registry (NIPR).
- After one (1) year, apply by going to the National Insurance Producer Registry (NIPR).
How to change License information (i.e.: demographics)
Update your License Information
Print a copy of the 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
Company Appointments – View Licensing General Information
Effective October 1, 2019 – Officer and Director Changes. (C.G.S. 38a-771): Please be advised that business entities no longer need to report changes of members/officers/directors.