Indiana Code IC 27-1-15.6-6 requires a business entity, before acting as an insurance producer, to obtain an insurance producer license. Indiana issues business entity producer licenses to corporations, partnerships (general and limited), and limited liability companies. Indiana does not issue licenses to sole proprietors unless they have a tax identification number other than the social security number. A non-resident license is issued for the same lines of authority as issued in the non-resident home state. The lines of authority may include Life; Accident and Health; Life, Accident and Health; Property and Casualty; Personal Lines; Travel Insurance; Self-Storage Insurance; Credit; Portable Electronics; Surplus Lines; Title; or Variable Life & Annuity.
The following requirements must be met to obtain a non-resident business entity (agency) producer license:
- Designate an individual licensed producer who will be responsible for the business entity's compliance with the insurance laws and administrative rules of Indiana. Designated Responsible Licensed Producer(s) (DRLP) must hold the same line(s) of authority the business entity is seeking.
- Complete the license application online through either www.sircon.com or www.NIPR.com.
- Pay the application fee of $90.00 (unless a retaliatory fee applies) plus online processing fee. *All license application fees are nonrefundable and nontransferable.
Should the designated producer need to be licensed, it is suggested that both the individual application and the entity license application be submitted at the same time. Registering with the Indiana Secretary of State is not required prior to submitting the non-resident business entity application. However, the entity should contact the Secretary of State prior to conducting business in Indiana.