|Date:||December 14, 2012|
|To:||Agent Licensing Sections of All Insurance Companies Licensed to do Business in the State of Wisconsin|
|From:||Theodore K. Nickel, Commissioner of Insurance|
|Subject:||Resident and Nonresident Annual Appointment Billing Reminder|
Invoices for filing the required annual initial and renewal appointment fee will be mailed shortly after January 1, 2013. All payments must be submitted by Electronic Funds Transfer (EFT) on our Web site at oci.wi.gov. No other form of payment is acceptable and will be returned unprocessed.
When logging on to the site to complete the payment process, companies will also be able to download the lists of agents associated with each invoice. The lists will include those who were initially appointed for the previous year as well as those whose appointments are being renewed.
Each invoice will have the amount calculated and no reconciliation is permitted. Companies may not take credit for terminating an agent at that time. All terminations must have been processed by December 31, 2012, or they will appear on the renewal billing schedule. Please note that Sircon transactions are completed in real time. Companies using other business partners must allow for the transfer of data which can cause a delay of one or more days in processing those transactions. Companies can obtain a list of all insurance agents by insurance company name at oci.wi.gov/agentlic/agntlist.shtml.
The initial and renewal appointment fees are: $16.00 for each resident intermediary (agent) per company and $50.00 for each nonresident agent per company regardless of the number of lines of authority. These fees are established under s. 601.31 (1) (n), Wis. Stat., and s. Ins 6.57 (4), Wis. Adm. Code.
If you have any questions, please refer to the Frequently Asked Questions posted on OCI's Web site at oci.wi.gov/agentlic/faq_annual_billing.htm. If you need to update the agent licensing department contact information, please contact the Agent Licensing Section at (608) 266-8699 or by e-mail at email@example.com.