Applicant must be one of the following legal business types:
- Limited Liability Company (LLC)
- Limited Liability Partnership (LLP)
- Sole Proprietorship
No more than 6 digits allowed for business phone number extensions.
Business address must not be a P.O. Box.
Applicant must not already have an active equivalent license for the requested LOA(s) in the requested Non Resident state.
Applicant's resident state license must be active on PDB.
At least one (1) Designated Responsible Licensed Producer (DRLP) must have an active resident or non-resident license in South Carolina. DRLP can be a licensed Insurance Producer, Surplus Lines Broker, or Limited Lines Insurance Producer individual.
Service Contract Providers, Third Party Administrators, Premium Service Companies, Utilization Review, Motor Vehicle Rental Companies, Portable Electronics and Self-Service Storage Facilities license classes are not required to have a Designated Responsible Licensed Producer (DRLP) on the application.
Business entity applicants must provide at least one Owner on the Owner Partner Officer Director page.
Service Contract Providers, Third Party Administrators, Premium Service Companies, Utilization Review, Motor Vehicle Rental Companies, Portable Electronics and Self-Service Storage Facilities license classes are not required to have an Owner listed on Owner on the Owner Partner Officer Director page.
Third Party Administrators are required to submit Financial Statement, Biographical Affidavit, Service Agreement and Surety Bond in the amount of $75,000 or more in order to obtain license in South Carolina. Email to email@example.com or fax to 803-737-6100.
Agencies applying for the Utilization Review license class are required to submit a utilization review program to South Carolina Department of Insurance. Please complete form and email to firstname.lastname@example.org or fax to 803-737-6100.
Agencies applying for the Service Contract Providers license must meet the financial obligations required by the state and provide any one of the following to the South Carolina Department of Insurance: A) Reimbursement insurance policy; B) Funded reserve account that must provide a minimum of 25,000 surety bond or a letter of credit; C) Audited financial statement on the applicant's parent company that must maintain a net worth of $100 million dollars or a 10k filing on the parent company's financial worth. Please email documentation to email@example.com or fax to 803-737-6100.
Motor Vehicle Rental Companies, Portable Electronics, Self-Service Storage Facilities applicants are required to have an appointment with a company before a license is issued. Please contact South Carolina Department of Insurance to confirm the appointment has been issued. Please contact South Carolina Department of Insurance to confirm the appointment has been issued firstname.lastname@example.org.
Premium Service Companies are required to file financial statements to South Carolina Department Of Insurance by March 1st of every odd year. Please email email@example.com or fax to 803-737-6100.
Agencies applying for the Service Contract Provider license class are required to submit a copy of the service agreement and the latest financial statement to South Carolina Department of Insurance.
Service Contract Provider must indicate the method used to meet the financial security requirements as described in South Carolina Code, title 38, Chapter 78, Code Section 38-78-30 by checking the appropriate box. In addition to the other requirements of this application, each provider must submit to South Carolina its most recent financial statement (balance sheet and income statement) reflecting a minimum net assets of $25,000.
- Reimbursement Insurance policy. If you choose this option please Submit to South Carolina a copy of the policy. The insurance company issuing the policy must be authorized to transact business in South Carolina. Policies issued by Surplus Line insurers are NOT acceptable.
- Funded reserve account and financial security deposit. You must indicate the type of security deposit placed in trust with the Director of Insurance. Applicant must also submit to South Carolina the appropriate form. The financial institution must be authorized to do business in South Carolina.
- Surety Bond
- Stand by Letter of Credit
- Assignment for Deposited Securities
- Deposit of Cash or Equivalents
- 100 Million minimum net worth. Submit to South Carolina the most recent Form 10K or Form 20-F or Parent's Audited Financial Statement.
Applicant with a Resident SC license in an inactive status and no longer eligible for late renewal, applicant may reapply for their license at normal license fee.
If applicant responds "yes" to one of the background questions please submit supporting documents electronically via NIPR's Attachments Warehouse. The documents may also be submitted to the state via mail, email, or fax.