IMPORTANT NOTICE: Business Entity Producers who have missed the March 31, 2013 license renewal deadline
Vermont Business Entity Producer licenses renewed on March 31, 2013. Accordingly, the license of a Business Entity Producer who did not renew as of March 31, 2013 has now lapsed. Vermont does not have a “grace period” for a license renewal, and a license cannot be “reactivated”. In order to apply for a license, follow the instructions below under How To Apply For A License.
For information about licensing requirements, how to apply for a license and FAQs. Vermont Law defines a Business Entity to mean, a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. The Business Entity Producer license is not a mandatory license in order to do business in Vermont. Possession of a Business Entity Producer license does not relieve any natural person who sells, solicits or negotiates insurance of the requirement to be licensed (and appointed by an insurer if acting as the agent of the insurer). See Subchapter 2 of Chapter 131 of Title 8, §4813a.
There are no lines of authority associated with a Business Entity Producer License. Business entity producers cannot be appointed by insurers.
Resident and Nonresident - Electronic Applications
Nonresident Business Entities MUST apply electronically using one of the third party vendors listed below. (The site should open in a new window. To return to this page, close the new window.)
Resident - Paper Application
An applicant must submit to the Department the following:
Attachment #1 Social Security Disclosure is for your information.
Vermont law defines a Business Entity to mean a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. A Producer is defined to mean a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance.
The license term is April 1st to March 31st of odd years. The Department will send out renewal notices for existing licensees at the beginning of the odd year. Note: license fees are not prorated and the license term is fixed, regardless of time of application.
2013 renewal fee chart?
In general, an insurance agency is not required to obtain a Business Entity Producer license in order for a licensed Producer to sell in connection with that agency. A natural person, however, must always be licensed as a Producer if they are selling, soliciting or negotiating insurance, even if the sales activity is in connection with a licensed Business Entity Producer.
A requirement for a Business Entity Producer license is the designation of a licensed Producer who is a natural person to be responsible for the business entity’s compliance with Vermont laws and regulations. Failure to maintain a designation with an active Producer will result in the termination of the Business Entity Producer license. A business entity should designate a new DRLP prior to the termination of an existing DRLP.
No. Licensure of a Business Entity does not relieve any natural person who sells, solicits or negotiates insurance of the requirement to be licensed.
No, an appointment is not required or available, with the exception of limited lines business entity licenses for credit or rental insurance.
For answers to additional questions that have not been addressed in the FAQs above, send an email to email@example.com please be sure to provide a telephone number where we can contact you.
Vermont Department of Financial Regulation
Insurance Division – Producer Licensing
89 Main Street
Montpelier, VT 05620-3101
(802) 828-3303 Telephone
(802) 828-1633 Fax