Initial Appointment Billing Update
As part of the 2013-2015 Budget, the legislature amended s. 601.31 (1) (n), Wis. Stat., regarding agent appointment fees. Effective July 1, 2014, the initial or renewal annual appointment fees are $16 for resident and $40 for nonresident agents.
The current appointment invoice shows new appointments that were effective January 1, 2014, to June 30, 2014. The fees for these appointments were $16 resident and $50 nonresident. This is a one-time process.
OCI does not anticipate any changes to the January appointment/renewal billing schedule. Please refer to OCI Bulletin posted online at oci.wi.gov/bulletin/1213annbilling.htm for more information.
Section Ins 6.57 (3), Wis. Adm. Code, requires each insurer to pay once each year, in accordance with an assigned billing schedule and in a payment prescribed by the Commissioner, the annual appointment fee within 30 days after the mailing of a payment notice to such insurers showing the amount due for all individuals serving as an agent for such insurer according to the Commissioner's records as of the notice data.
All insurers are required to report the appointment of all intermediary-agents employed by the insurer within 15 days of the date the agent contract is executed or the date that the first application is submitted, whichever is earlier. No insurer may accept business directly from an intermediary or enter into an agency contract with an intermediary unless that intermediary is a licensed agent appointed with that company. If the agent sells annuity or long-term care insurance, he or she must be licensed, appointed and have completed the required training before selling, soliciting or negotiating insurance. The following are EXEMPT from requiring appointments:
- Surplus Line Agents
- Life Settlements Brokers
- Firms/Entities (an OPTIONAL license is available for $100)
Available on this site are the current appointment and termination forms. These forms are available for use only by those companies who have qualified for the exemption from the electronic appointment process. Insurers can submit their appointments or terminations online on the NIPR or Vertafore Web site. There is no fee for terminating an appointment.
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listed below, which you can download at no cost from Adobe .
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For further information please contact the Agent Licensing Section at (608) 266-8699 or by e-mail at email@example.com.