Consultant License Info
IMPORTANT NOTICE: Consultant licenses expire on a common expiration date of March 31 of Even years. If you apply for a license now, you will pay the initial license and application fee for a license that expires on March 31, 2016. You will also receive an invoice for the license renewal fee prior to the expiration date of that license. All applications received at the Insurance Department AFTER March 1st, 2016 will not be issued effective until April 1st, 2016, unless a specific request is made.
Information about licensing requirements, how to apply for a license and FAQs. Vermont Law defines Consultant to mean, an individual, resident or nonresident who, for a fee, holds himself or herself out to the public as engaged in the business of offering any advice, counsel, opinion or service with respect to the benefits, advantages or disadvantages promised under any policy of insurance that could be issued in this state. See Title 8, §4791.
Nonresident and Resident Electronic Application
- Non Resident Consultants who hold a Resident Consultant license in their Resident State AND;
- Resident Consultant Applicants can apply electronically using NIPR. (The site should open in a new window. To return to this page, close the new window.)
- Complete the online application process and pay the relevant fees. Attachment #2 is no longer required for electronic submissions.
- If your application is routine, and does not require any additional information, the license is generally issued within 48 hours.
- If your application is not routine, you will be notified on-line that additional information must be submitted directly by you to the Department. All additional information that must be submitted is outlined on the application, and can be faxed to (802) 828-1633. Your license application will be reviewed after all required information has been received.
Resident - Paper Submission
An applicant must submit to the Department the following:
- NAIC Uniform Individual Application (This application is used for ALL license types, though they are not all specified on the form);
- A $5, 000 bond with an authorized surety approved by the Commissioner;
- Submit the written agreement you intend to use with clients, outlining the nature of the work to be performed and a description of your fee structure; and,
- A license application fee of $30.00 and license fee of $200.00. Checks should be made payable to VT Dept. of Financial Regulation.
Attachment #2 Certification print a hard copy, fill in; and,
Attachment #1 Social Security Disclosure is for your information.
- What is a Consultant?
- What is the license term?
- Is CE required for Insurance Consultants?
- Can I hold an Insurance Producer license and a Consultant’s license at the same time?
- Can I do business with producers or brokers?
- Who should I contact with questions?
A Consultant is an individual, resident or nonresident who, for a fee, holds himself or herself out to the public as engaged in the business of offering any advice, counsel, opinion or service with respect to the benefits, advantages or disadvantages promised under any policy of insurance that could be issued in this state. See Title 8, §4791. Further, the law goes on to state, “A consultant is obligated under his or her license, to serve with objectivity and complete loyalty the interests or his or her client alone; and to render his or her client such information, counsel, and service as within the knowledge, understanding, and opinion, in good faith of the licensee, best serves the client’s insurance needs and interests.” See Title 8, §4802.
The license term is April 1st to March 31st of even years. The Department will send out renewal notices for existing licensees at the beginning of the even year. Note, license fees are not prorated and the license term is fixed, regardless of time of application.
No. No person may concurrently hold a Consultant’s license and an insurance producer’s license, surplus lines broker’s license, or limited lines producer license in any line. See Title 8, §4802(d).
No licensed Consultant may employ, be employed by, or be in partnership with nor receive any remuneration whatsoever, from any licensed insurance producer, surplus lines insurance broker, limited lines producer or insurer arising out of his or her activities as a consultant. See Title 8, §4802(e).
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