Do you require appointments in South Dakota?
Appointments are required of those producers or business entity's who are acting in the capacity of an "agent of the insurer". An agent of the insurer is any insurance producer who is compensated directly or indirectly by an insurer and sells, solicits or negotiates any insurance product of that insurer. An agent of the insurer must hold an appointment with that insurer. Written notice or verification of all appointments are mailed to both the insurer and the licensed producer.
An insurer must appoint a producer or business entity as its agent within fifteen (15) days from the date the agency contract is executed or the first insurance application is submitted by the producer or business entity to the insurance company. All appointments are renewed on an annual basis. All appointments and terminations are processed through March 31st of each year and then each insurer is provided with a list of all appointed producers along with a billing statement. Electronic appointment renewal processing will be available in 2002. New and renewal appointment fees are $10.00 for resident producers and $20.00 for nonresident producers.
Appointments may be terminated either by use of paper forms or electronic appointment termination through the NAIC Producer Information Network (PIN). To access the Producer Information Network (PIN) you may call the NIPR's product information line at 8167838468. Insurers must provide the Division with a reason for termination. The Division sends written notice of an appointment termination to both the insurer and the producer.
Other South Dakota Insurance FAQs
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Where can I obtain insurance licensing information?
You may obtain licensing information from the South Dakota Division of Insurance: Address: Producer Licensing South Dakota Division of Insurance 118 West Capitol … more -
Who needs to be licensed in South Dakota?
Any person or business entity that sells, solicits or negotiates insurance in this state for any class or classes of insurance must be licensed for that line of … more -
How can I obtain the required forms for insurance licensing?
Click here to access application forms for various licensing types. If additional forms are needed, you may contact the Division of Insurance in person, by mail, fax … more -
What types of licenses does the Insurance Division issue?
The South Dakota Division of Insurance issues the following types of licenses: Bail Bonds, Resident Producer, NonResident Producer, Surplus Lines Broker, Broker, … more -
What are the general requirements for licensure in the State of South Dakota?
In order to qualify as a South Dakota resident insurance Producer, you must satisfy the following basic requirements: pass the license examination(s) required by … more -
Is any pre-licensing education required?
No prelicensing education is required in South Dakota to obtain a resident or nonresident producer license. -
How do I become licensed as a new resident South Dakota Insurance Producer?
If you have not previously held a producer license in this state or any other state, you will need to take insurance exams for those lines of authority you wish to … more -
How do I qualify for a non-resident Producer License?
You must first be licensed and in good standing in your Home State as a resident producer. The Division of Insurance will verify your licensing status, your lines of … more -
How do I apply for a Business Entity Producer License?
Both resident and nonresident business entities must first be registered with the South Dakota Secretary of State to receive a Certificate of Authority to … more -
How do I schedule an insurance licensing exam?
Contact the exam provider Experior Assessments at 18008648373 or contact their web site at http://www.experioronline.com/sdinsurance.htm to obtain an … more
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