Premium Finance Company
Definition
PREMIUM FINANCE LICENSEE – A person engaged in an agreement by which an insured promises to pay the amount advanced to an insurance Producer in payment of premiums on an insurance contract, together with a service charge.
Applicable Statutes
C.G.S. §38a-160 to 170 – see Laws and Regulations
Fees
Initial: $100.00
Reinstatement: $100.00
Renewal: $50.00
No pro-rating, non-refundable application fee.
Duration
One (1) year – Expired June 30th EVERY year.
How to Apply
- Apply by going to the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”
- The 2nd Premium Finance Company Application must be completed and attached to the NIPR warehouse.
How to Renew
- Renewal notices are EMAILED about 90 days before the expiration date.
- Apply on the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Renew an Existing License.”
- The 2nd Premium Finance Company Renewal Application must be completed and attached to the NIPR warehouse.
How to Amend Lines of Authority
Not applicable.
How to Reinstate a License
- Apply by going to the National Insurance Producer Registry (NIPR). Under Licensing Center, select “Apply for a New License.”
- The 2nd Premium Finance Company Application must be completed and attached to the NIPR warehouse.
How to change License information (ie.: 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.