Insurance News

The Utah Insurance Commissioner finds as follows: 1. Due to social distancing restrictions from the COVID-19 pandemic, the Utah Insurance Department’s license testing vendor, Prometric, has temporarily closed its facilities in Utah. […]

To qualify for a variable contracts license, you must meet the following requirements: Either apply for a life license at the same time or already hold a life license. Have evidence of a current FINRA qualification and registration with the Utah Securities Division (a current CRD showing Utah approval). For Non-resident Variable Contracts: Please refer to the non-resident jurisdictional agreement

To qualify for surplus lines, you must have been a property/casualty insurance producer for at least three of the past four years. The “comparable preparation” provision does not apply to surplus lines. Residents or Non-residents may apply online at SIRCON or NIPR. * It is your responsibility to make sure you meet the minimum experience requirements prior to taking the

UCA 31A-23a-102(8): “Reinsurance intermediary” means: a reinsurance intermediary-broker; or a reinsurance intermediary-manager. UCA 31A-23a-102(9): “Reinsurance intermediary-broker” means a person other than an officer or employee of the ceding insurer, firm, association, or corporation who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the

UCA 31A-23a-102(6)(a): “Managing general agent” means a person that: manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office; acts as an agent for the insurer whether it is known as a managing general agent, manager, or other similar term; produces and underwrites an amount of gross direct

UCA 31A-1-301(90): “Insurance consultant” or “consultant” means a person who: advises another person about insurance needs and coverages; is compensated by the person advised on a basis not directly related to the insurance placed; and except as provided in 31A-23a-501, is not compensated directly or indirectly by an insurer or producer for advice given. Licensing: To qualify for a consultant

No exam is required for a bail bond producer license but fingerprinting is required. Application can be made online from your home or office at SIRCON or NIPR.

UCA Section 31A-26-201 “Insurance adjusting” or “adjusting” means directing the investigation, negotiation, or settlement of a claim under an insurance policy, on behalf of an insurer, policyholder, or a claimant under an insurance policy. Company adjuster means a person employed by an insurer whose regular duties include insurance adjusting. Independent adjuster means an insurance adjuster required to be licensed under 31A-26-201, who