Free South Dakota Insurance FAQs | Free South Dakota Insurance Legal Documents

Do You Require Appointments In South Dakota?

Tue, 29 May 2007 21:19:00 GMT

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.

How Can I Obtain The Required Forms For Insurance Licensing?

Tue, 29 May 2007 21:19:00 GMT

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 or Email as identified above.

How Do I Apply For A Business Entity Producer License?

Tue, 29 May 2007 21:19:00 GMT

Both resident and nonresident business entities must first be registered with the South Dakota Secretary of State to receive a Certificate of Authority to transact business in South Dakota. Contact information for the Secretary of State along with the Certificate of Authority application are contained in the Business Entity producer license application packet. You may contact the NIPR web site at: http://www.licenseregistry.com South Dakota accepts the NAIC Uniform Business Entity Application. To apply for a license, complete the application and attach your Certificate of Authority from the Secretary of State and your license application fee of $25.00 for residents and $30.00 for nonresidents. Nonresident Business Entities from the following states will need to submit a Home State Certification: AL, DE, KY, MA, NJ, NM, OR, RI, SC, VT, WV.

How Do I Become Licensed As A New Resident South Dakota Insurance Producer?

Tue, 29 May 2007 21:19:00 GMT

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 sell in this state. Upon completing and passing your exam(s) you will need to complete a resident producer license application and remit it to the Division of Insurance with your application fee in the amount of $25.00.

How Do I Go About Renewing My License?

Tue, 29 May 2007 21:19:00 GMT

Resident producer licenses renew annually on May 1st but are continuous for any producers who are exempt from CE requirements or only hold a limited line of authority that does not require CE fees or CE reporting. Resident producers who are required to comply with CE requirements must remit a $10.00 renewal fee annually by April 30th. Those same resident producers are required to report their CE reports by April 30th in all "even numbered" years. Nonresident producer licenses renew annually on January 1st and require a renewal fee of $30 remitted to the Division of Insurance by December 31st. Business Entity licenses are continuous as long as the licensed responsible producer designated in the license renews his or her individual license.

How Do I Qualify For A Non-Resident Producer License?

Mon, 04 Jun 2007 21:51:22 GMT

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 authority, your CE compliance and any prior administrative actions by accessing the NAIC Producer Data Base (PDB) online. You need to complete the NAIC Uniform Individual NonResident Producer License application. Once you complete the application, attach your license application fee of $30.00 and send the application and fee directly to the Division of Insurance. If you are a resident producer in any state that currently subscribes to the PDB you will not need to submit a Home State Certification. Producers from the following states must submit a Home State Certification: AL, DE, KY, MA, NJ, NM, OR, RI, SC, VT, WV.

How Do I Schedule An Insurance Licensing Exam?

Tue, 29 May 2007 21:19:00 GMT

Contact the exam provider Experior Assessments at 18008648373 or contact their web site at http://www.experioronline.com/sdinsurance.htm to obtain an exam bulletin and schedule an exam. Online Registration and Scheduling is available. The Insurance Exam Registration Form can also be mailed to Experior at 1360 Energy Park Drive St. Paul, MN 551085252 or faxed to (800) 3479242. South Dakota area exam locations are in Rapid City, SD; Sioux Falls, SD; Fargo, ND and Bismarck, ND. A separate exam is given for each major line of insurance. A combination Life, Accident and Health or Sickness examination and a Commercial Lines (Property and Casualty) examination are also offered. These combination examinations allow you to qualify for multiple lines with a single examination. Exam reports are transmitted electronically to the Division of Insurance. Once you pass your test, you may submit an insurance license application to the Division of Insurance.

How Long Will It Take To Process My Application?

Tue, 29 May 2007 21:19:00 GMT

Considering mailing time, you should receive your license within 3 or 4 business days from the date the Division of Insurance receives your application and fee. Delays may occur if it becomes necessary to investigate administrative actions listed on your application or discovered in your background check.

If I Move To Another State, How To I Obtain A New Non-Resident Producer License From South Dakota?

Mon, 04 Jun 2007 21:51:22 GMT

First, you will need to obtain a Letter of Clearance by sending a request and payment in the amount of $10.00 to the South Dakota Division of Insurance. They will issue the Letter of Clearance in favor of the new state in which you are applying for a new resident producer license. The Letter of Clearance indicates you are licensed and in good standing in South Dakota and the lines of authority you are authorized to write. Once you have obtained your new resident producer license in your home state, we will reissue you a nonresident license for South Dakota. No license application, fee or Home State Certification is necessary if you were licensed and in good standing when you left South Dakota.

If I Move To South Dakota And Have Been Licensed In Another State, Do I Need To Take Any Insurance Exams?

Tue, 29 May 2007 21:19:00 GMT

If you move to South Dakota and held a license previously in another state and request or apply for a license in South Dakota within 90 days of the date you terminated your license in the previous state, you will not need to take any South Dakota exams to become licensed for the same lines of authority you held in your previous state. If you do wish to become licensed in additional lines of insurance, you may need to take an exam.

Is Any Pre-Licensing Education Required?

Tue, 29 May 2007 21:19:00 GMT

No prelicensing education is required in South Dakota to obtain a resident or nonresident producer license.

What Are The General Requirements For Licensure In The State Of South Dakota?

Tue, 29 May 2007 21:19:00 GMT

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 statute; meet the minimum age requirement of 21 years of age for a Bail Bonds license or 18 years of age for all other licenses. Submit the completed Application for Individual Resident Producer License; remit a $25 application fee (only with the first application); submit an original letter of clearance from your last resident state in which you have held a resident license within the past three years; must show date of cancellation. Persons wishing to be licensed for Variable Life or Variable Annuities must meet all requirements above for a Life license and also: be registered with the South Dakota Division of Securities; have passed a Series 6, 7, 63 or 66 exam; and submit an approved application form, available from insurance companies or apply online at www.state.sd.us/dcr/insurance. Licensed resident or nonresident Producers of South Dakota are eligible to be licensed as Surplus Lines brokers, upon receipt of: a completed Application Form; a $2,000 bond; and a $50 license fee. Applicants should contact the Division of Insurance for the application, bond form and statement of regulations or obtain an application online at www.state.sd.us/dcr/insurance. South Dakota residents, at least 21 years of age, are eligible to be licensed for a Bail Bonds license. The Division requires: passing the Bail Bonds examination; a completed Bail Bonds application and $30 fee; a $10 appointment fee; fingerprints certified by an authorized Law Enforcement Officer; a credentialsize recent photograph (full face); a completed Bail Bond license application; an Authorization and Release form; and a $15 check or money order payable to the South Dakota Division of Criminal Investigation. Persons who want to sell Crop Insurance or MultiPeril Crop Insurance must hold a Crop License and pass the South Dakota Producer's Examination for Crop Insurance, Series 1050. Anyone holding a Crop Insurance License is authorized to sell MultiPeril Crop Insurance. Holding a Property and/or Casualty license does not authorize anyone to sell crop insurance.

What Do I Do If I Have An Address Change?

Tue, 29 May 2007 21:19:00 GMT

South Dakota law requires you notify the Division of Insurance of any change of address or contact information. You may contact them with a change request by mail, fax or email. Please refer to the contact information above.

What Types Of Licenses Does The Insurance Division Issue?

Tue, 29 May 2007 21:19:00 GMT

The South Dakota Division of Insurance issues the following types of licenses: Bail Bonds, Resident Producer, NonResident Producer, Surplus Lines Broker, Broker, Risk Retention, Foreign Solicitor, Rental Car Insurance Producer. South Dakota has adopted the Major Lines of Authority contained in the NAIC Producer Licensing Model Act. Therefore, they eliminated many miscellaneous lines of authority and combined them with the major lines of authority. The major lines of authority are now Property, Casualty, Life, Accident & Health or Sickness, Variable, Limited Line Credit Insurance, Crop Insurance, Travel Accident, Bail Bonds, Commercial Lines, Personal Lines and Rental Car Insurance.

Where Can I Obtain Insurance Licensing Information?

Tue, 29 May 2007 21:19:00 GMT

You may obtain licensing information from the South Dakota Division of Insurance: Address:

Producer Licensing
South Dakota Division of Insurance
118 West Capitol Avenue
Pierre, SD 57501
Telephone: (605) 7733513
Fax: (605) 7735369
Email: Assistant Director:
Sam Meyer: sam.meyer@state.sd.us
Producer Licensing:
Penney Wagoner, nonresident: penney.wagoner@state.sd.us
Lori McClelland, resident: lori.mcclelland@state.sd.us
LuAnn Johnson, business entities: luann.johnson@state.sd.us
Continuing Education
Jo Mikkelsen, CE Coordinator: jo.mikkelsen@state.sd.us

Website www.state.sd.us/dcr/insurance

Who Needs To Be Licensed In South Dakota?

Tue, 29 May 2007 21:19:00 GMT

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 authority in accordance with South Dakota law. If the person or business entity represents the insurer or acts as an agent of the insurer, they shall also hold a valid appointment with that insurer. South Dakota does not issue licenses to consultants although, if a person is acting in the capacity of a consultant and providing insurance advice, they may obtain a Producer License. Whenever a person is acting as an agent or consultant for the insured, they are not required to obtain an appointment. Please note South Dakota law does not permit a producer to charge fees in addition to premium. Therefore, no producer may act as both agent of the insured and charge the consumer consultant fees in addition to commissions earned on policies. A General Agent who receives only a commission override for business produced by persons he or she solicited as producers and has no involvement whatsoever in the sale, solicitation or negotiation of insurance does not have to obtain a license or appointment with that same insurer. For example, if the General Agent has direct contact with the client or receives applications or receives premiums, that General Agent must obtain a license and appointment as they would in fact be selling, soliciting or negotiating insurance. South Dakota does not require a license of property/casualty adjusters; they simply hold the insurance company responsible for the actions of their adjusters. Risk Managers are exempt from licensing if they are a salaried fulltime employee who only counsels or advises his or her employer relative to the insurance interests of the employer or of the subsidiaries or business affiliates of the employer, if the employee does not sell or solicit insurance or receive a commission.

Free Auto Insurance FAQs

Sat, 28 Nov 2009 16:50:16 GMT

Free Auto Insurance FAQs

Free Health Insurance FAQs

Sat, 28 Nov 2009 16:50:16 GMT

Free Health Insurance FAQs

Free Home Owners Insurance FAQs

Sat, 28 Nov 2009 16:50:16 GMT

Free Home Owners Insurance FAQs

Free Life Insurance FAQs

Sat, 28 Nov 2009 16:50:16 GMT

Free Life Insurance FAQs