Reinsurance Intermediary Broker & Manager
(Individual & Business Entity)
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-760)
REINSURANCE INTERMEDIARY MANAGER – Any person, firm, association, or corporation who has authority to bind or manage all parts of the assumed reinsurance business of a reinsurer, including the management of a separate division, department or underwriting office, and acts as an agent for such reinsurer whether known as a reinsurance intermediary-manager, manager, or other similar term. (§38a-760)
Applicable Statutes
C.G.S. §38a-760 – 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 December 31st every EVEN year.
How to Apply
Residents:
- There is no pre-licensing course required.
- There is no examination required.
- Must have a Producer license.
- Apply by going to the National Insurance Producer Registry (NIPR).
Non-Residents:
- Connecticut will grant reciprocity with a Producer or Reinsurance Intermediary license in your resident state.
- Apply by going to the National Insurance Producer Registry (NIPR).
Non-Residents ONLY 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.
Designated Responsible Licensed Person (DRLP)
A Designated Responsible Licensed Person (DRLP) is a licensed individual appointed by a business entity to be responsible for the entity’s insurance license. In many license types, a DRLP is required to ensure the business entity has appropriate licensed oversight.
Reinsurance Intermediary License Exception:
A DRLP is NOT required for a Rental Car Permit license.
Business entities applying for this license type do not need to designate or maintain a DRLP, even though this license is issued to business entities only.
How to Renew
- Renewal notices are EMAILED about 90 days before the expiration date.
- Apply by going to National Insurance Producer Registry (NIPR).
How to Amend Lines of Authority
Not applicable.
How to Reinstate a License
Reinstate the license 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
- Non-Resident Corporation: Power of Attorney Form
- Non-Resident Non-Corporation: Power of Attorney Form
- Non-Resident Individual: Power of Attorney Form