California Occupational License
License Title:
Surplus Lines Broker
Surplus Lines Broker
Department of Insurance
Producer Licensing Bureau
Licensing Agency Contact Information:
| Address: | 320 Capitol Mall Sacramento, CA 95814 - 4309 |
| Phone Number: | (800) 967-9331
|
| Fax Number: | (916) 327-6907
|
| Internet Address: | http://www.insurance.ca.gov |
License Requirements, Fees, and Examination Information:
A Surplus Lines Broker is a person who places insurance with non-admitted insurers, covering risks other than aircraft and certain marine and transportation risks.•
• Minimum Age: 18 years
• Residency: California residency is not required
• Experience: Must hold a Property Broker-Agent and Casualty Broker-Agent license in resident state
• Entity Types: Individual and Business Entity
• Fees: Individual Application: $588 for Surplus line brokers who are only transacting on behalf of a licensed surplus line broker business entity; $1,178 for brokers who do not only transact on behalf of a surplus line broker business entity.
• Organization application: $1,178 (two-year term)
• Renewal: $534 or $1,178 as noted above for two-year term.
• Fingerprint processing fee: None
• Experience Requirement: Must hold active Property Broker-Agent and Casualty Broker-Agent
• Average Time to Process Application: two to three weeks
• Renewal Period: Two-year license term
Special License Requirements: Surplus line brokers who are only transacting on behalf of a licensed surplus line broker business entity are not required to file a $50,000 surplus line broker bond. All other surplus line brokers must comply with the $50,000 bond requirement.
Applicants must file the following forms: Surplus Line and/or Special Lines' Surplus Line Certification, Form LIC-050; Business Entity Endorsement, Form 411-8A.
For more information on this license type us this URL: https://www.insurance.ca.gov/0200-industry/0050-renew-license/0200-requirements/special-lines-surplus.cfm.
Authority: Section 1761 of the California Insurance Code.
Occupations To Which This License Applies:• Minimum Age: 18 years
• Residency: California residency is not required
• Experience: Must hold a Property Broker-Agent and Casualty Broker-Agent license in resident state
• Entity Types: Individual and Business Entity
• Fees: Individual Application: $588 for Surplus line brokers who are only transacting on behalf of a licensed surplus line broker business entity; $1,178 for brokers who do not only transact on behalf of a surplus line broker business entity.
• Organization application: $1,178 (two-year term)
• Renewal: $534 or $1,178 as noted above for two-year term.
• Fingerprint processing fee: None
• Experience Requirement: Must hold active Property Broker-Agent and Casualty Broker-Agent
• Average Time to Process Application: two to three weeks
• Renewal Period: Two-year license term
Special License Requirements: Surplus line brokers who are only transacting on behalf of a licensed surplus line broker business entity are not required to file a $50,000 surplus line broker bond. All other surplus line brokers must comply with the $50,000 bond requirement.
Applicants must file the following forms: Surplus Line and/or Special Lines' Surplus Line Certification, Form LIC-050; Business Entity Endorsement, Form 411-8A.
For more information on this license type us this URL: https://www.insurance.ca.gov/0200-industry/0050-renew-license/0200-requirements/special-lines-surplus.cfm.
Authority: Section 1761 of the California Insurance Code.
| Occupation Title | SOC Code |
| Insurance Sales Agents | 413021 |