LICENSING REQUIREMENTS
The DISB Office of Innovation and the Insurance Bureau want insurtech companies to be aware of insurance licensing requirements in the District of Columbia.
INSURANCE COMPANIES
In accordance with Title 31 of the District of Columbia Official Code, an insurer must apply for a Certificate of Authority issued by the Commissioner in order to engage in the insurance business in the District of Columbia. The applicant must file a Uniform Certificate of Authority Application (UCAA) as developed by the National Association of Insurance Commissioners (NAIC).
A primary application should be used by newly formed District insurance companies and HMO’s seeking a Certificate of Authority in the District of Columbia and by insurers wishing to re-domesticate to the District. All other insurance companies and HMO’s, licensed elsewhere, should submit an expansion application.
The Uniform Certificate of Authority Application (UCAA) is a uniform process used for risk-bearing entities to obtain or amend a Certificate of Authority (license). Primary UCAA applications are submitted in hard copy to the DC Department of Insurance, Securities and Banking (DISB). Expansion UCAA applications are submitted electronically through the NAIC website. Filing requirements, forms and other required documents are available on the NAIC and DISB websites.
INSURANCE PRODUCERS
Pursuant to the Code of the District of Columbia §31-1131.03(a), a person shall not sell, solicit or negotiate insurance in DC for any class of insurance unless the person is properly licensed. Both individuals and firms may apply for a license either as a resident or nonresident applicant.
A person who maintains his or her principal place of residence and principal place of business in the District shall apply for a resident insurance producer license with DISB. A person who maintains his or her principal place of residence and principal place of business outside the District shall apply for a nonresident insurance producer license with DISB.
The National Insurance Producer Registry (NIPR) is a one-stop resource with everything you need to know about obtaining, renewing and managing producer licenses through NIPR. Both resident and nonresident applicants must apply for an insurance producer license in the District of Columbia electronically at NIPR. Filing requirements, forms and other required documents are available on the NIPR and DISB websites.
For more information regarding insurance compliance requirements with DISB, click here.