Property Chapter 4 Part 3

Part 3: Licensing

Requirements, Procedures, Maintenance, and Termination

Start Here: 7 Numbers You MUST Memorize

18

Minimum age to apply

20 hrs

Pre-licensing per line

2 yrs

License duration

24 hrs

CE every 2 years

3 hrs

CE in ethics

1 yr

Exam valid for license app

5 yrs

Wait after revocation

180 days

Temporary license max

1. Types of Licensees

The Core Rule

A person CANNOT sell, solicit, or negotiate insurance in this state unless licensed for the appropriate line(s) of authority.

Real-World Scenario: Wrong Line of Authority

The Setup: Agent Tom holds only a Life insurance license. His client asks him to help with homeowners insurance since they trust him.

What Happens: Tom sells the client a homeowners policy anyway, thinking "it's just one policy."

The Result: Tom has committed a violation. He transacted Property insurance without the proper license. The Commissioner can suspend or revoke his Life license, impose fines, and Tom could face criminal charges. The policy itself may also be voidable.

Lines of Authority in New Jersey

Life

Accident and Health (Sickness)

Variable Life and Variable Annuity*

*Requires securities license too

Property

Casualty

Personal Lines

Surplus Lines

Title Insurance

Limited Lines

Bail bonds, car rental, credit, travel, etc.

Requirements to Become a Producer

To qualify for a producer license, you must:

1 Be 18 years of age or older
2 Submit the NAIC uniform licensing application and pay required fees
3 Complete 20 hours of prelicensing education for each line of authority (unless exempt)
4 Pass the licensing examination no more than 1 year before submitting application
5 Be a NJ resident OR plan to engage in business at an office in NJ
6 Plan to sell to the public, NOT just for your own accounts or family/associates
7 Be of good reputation and character, no crimes of moral turpitude
8 Submit fingerprints and consent to criminal background check (applicant pays)

Business Entity License

A business entity (corporation, LLC, partnership) can also get a producer license if:

  • Domiciled in NJ OR authorized by Secretary of State to do business in NJ
  • Application signed by each partner/officer who holds a license
  • Partners/officers are of good reputation, no disqualifying convictions
  • Will sell to the general public, not just for itself
  • At least ONE partner/officer holds a valid producer license

Important: A license will NOT be issued to an entity operated by someone whose license was revoked in the past 10 years.

Nonresident Producer

A producer licensed in another state can transact insurance in NJ by obtaining a nonresident license. Requirements:

  • Hold the same line of authority in their home state
  • Submit proper request and pay fees
  • Appoint the Commissioner as agent for service of process (so court papers can be delivered to NJ Commissioner)

Moving to NJ?

If a nonresident producer moves to NJ, they must:

  • • Notify Department of change within 30 days
  • • Within 90 days of change in residence status, request to qualify as NJ resident
  • • Submit fingerprints

Real-World Scenario: Nonresident Working in NJ

The Setup: Sarah is a licensed P&C producer in Pennsylvania. A NJ business owner she knows asks her to write their commercial policy.

What She Must Do: Sarah needs to obtain a NJ nonresident license first. She applies, pays the fee, and designates the NJ Commissioner as her agent for service of process.

The Result: Once approved, Sarah can legally write the NJ policy. If she later moves to NJ permanently, she has 30 days to notify the Department and 90 days to convert to a resident license.

Surplus Lines Agent

A surplus lines agent can write business for insurers that DON'T have a Certificate of Authority in NJ (nonadmitted insurers) when no admitted insurer offers that coverage.

Requirements:

  • • Must be a NJ resident
  • • Must hold a Property and Casualty license

Real-World Example:

The Setup: A rare art collector needs specialized coverage for a $50 million painting. No admitted NJ insurers will write this policy.

Solution: A surplus lines agent can place this coverage with Lloyd's of London (an unauthorized insurer in NJ) because the coverage isn't available from authorized insurers.

2. Obtaining a License

Prelicensing Requirements

Standard Requirement:

20 hours of prelicensing education for EACH line of authority

Must include NJ insurance regulations

Self-study and online courses count

Then You Must:

Pass the state licensing examination

Professional Designations That Waive Education/Exam

The Commissioner may waive prelicensing education and exam if you hold certain designations:

For Life/Health:

CLU ChFC CFP FLMI LUTCF CEBS CIC RHU REBC HIA

For P&C:

CPCU AAI ARM CIC

Note: These waivers do NOT apply to continuing education requirements.

Other Exam Exemptions

Former Public Employee:

If you previously held a NJ license that was terminated as a condition of public employment in an insurance-related field, you're exempt from re-examination if you apply within 1 year of leaving that job.

Previously Licensed in Another State:

If you were licensed and in good standing in another state, you don't need prelicensing or exam - but application must be received within 90 days of cancellation of previous license.

Temporary Work Authority

Completed all requirements but waiting for the actual license?

You can get temporary work authority to start working immediately.

Duration: Expires no more than 60 days after issued, OR when actual license is issued (whichever is first)

Who Does NOT Need a Producer License

The following do NOT need a license:

! Directors/employees doing executive, admin, managerial, or clerical work only
! Directors/employees providing technical advice to licensed producers
! Those securing info for group insurance or admin services for mass-marketed P&C
! Employers/associations administering their OWN employee benefit programs
! Those doing inspection, rating, classification, or training producers (not selling)
! Those advertising WITHOUT intent to solicit
! Nonresidents selling commercial P&C for multi-state risks
! Salaried employees advising their OWN employer about employer's insurance

3. Maintenance and Duration

License Duration and Renewal

2 Years

License duration

Expires on last day of your birth month

$20

Renewal fee

$100 for late renewal

Continuing Education (CE) Requirements

24 hours

Total CE every 2 years

3 hours

Must be in ETHICS

EXEMPT

Nonresidents if home state has reciprocity

Real-World Scenario: Missing CE Requirements

The Setup: Agent Maria's license expires on March 31st. She completed 21 hours of CE (including 3 hours of ethics) but forgot she needed 24 total hours.

What Happens: Maria applies for renewal on March 20th. The Department rejects her renewal because she's 3 hours short.

The Result: Maria must quickly complete 3 more hours before March 31st or her license expires. If it expires, she must pay the $100 late renewal fee and cannot sell any policies until reinstated.

Renewal Process Timeline

10 At least 10 days before expiration: Submit renewal application with fee and certification
! Miss the deadline: License expires. You cannot sell insurance!

What If Your License Lapses?

Within 1 Year (12 months) of Expiration:

  • • Apply for late renewal
  • • Provide proof of completing CE hours
  • • Pay $100 late renewal fee
  • • Certify whether you transacted business while unlicensed (and how many policies written)
  • Waived from prelicensing education and exam

After 1 Year:

Must start over - prelicensing, exam, and new application required.

Waivers for Special Circumstances

A producer may request waiver of renewal requirements if unable to comply due to:

  • Military service
  • Long-term medical disability
  • Other extenuating circumstances

Can also request waiver of any exam requirements or fines related to failure to renew.

Certification of License Status

When requested by any person, the Department will issue a certification of license status for any currently licensed producer or producer licensed within the past 4 years.

The certification must include:

  • • Licensee's name, date of birth, license reference number
  • • Statement whether license is in force or expired
  • • Types of insurance for which authorized
  • • Whether qualified by examination (or equivalent)
  • • Whether any formal disciplinary action was taken in last 4 years

Real-World Example:

The Setup: ABC Insurance Company is considering hiring Agent John. They want to verify his license history.

What They Do: ABC requests a certification of license status from the Department. The certification shows John has been licensed for 3 years, holds P&C authority, passed the exam, and has no disciplinary actions.

Result: ABC has official documentation of John's license status and clean record before hiring him.

Commissioner May Order Retake of Exam

The Commissioner may, by order, require a licensee or applicant to retake the licensing examination.

  • • The order must clearly state the reasons for this requirement
  • • The licensee's license remains effective pending results (unless suspended/revoked)
  • • The licensee may appeal the decision within 10 days of receiving the order

Real-World Example:

The Setup: Agent Rachel has received multiple complaints about misunderstanding basic policy provisions and giving incorrect advice to clients.

What Happens: The Commissioner orders Rachel to retake the licensing exam to demonstrate she has proper knowledge. The order specifies the complaints and concerns.

Rachel's Options: She can take the exam (her license stays active while she prepares), or she can appeal the order within 10 days if she believes it's unjustified.

4. License Refusal and Termination

Reasons the Commissioner May Revoke, Suspend, or Refuse to Issue/Renew

Willfully violating any Insurance Code provision

Intentionally withholding material information on application

Obtaining license through misrepresentation or fraud

Cheating on an exam (including using notes)

Having license suspended/revoked in ANY state

Committing any fraudulent act

Misappropriating funds of insureds or insurers

Materially misrepresenting policy conditions

Paying rebates to induce business

Aiding/abetting another producer in violations

Being convicted of a crime of moral turpitude

Failing to file accurate business address

Failing to pay Commissioner's fine

Failing to appear for subpoena

Failing to notify of conviction/indictment within 30 days

Forging another's name on application

Failing to comply with child support order

Failing to pay state income tax

Knowingly accepting business from unlicensed producer

After REVOCATION

Must wait 5 years before applying for reinstatement

Must submit affidavit describing how competence, trustworthiness, reputation, and character have improved

Cannot: Act as partner/officer in producer organization or work in ANY capacity with a licensed producer

After SUSPENSION

Upon completion of suspension period and meeting all conditions, can reapply immediately

Submit properly completed application

Side-by-Side: Two Agents, Two Outcomes

Agent Mike - REVOKED

What He Did: Misappropriated $50,000 in client premiums.

Consequence: License revoked. Must wait 5 years to even apply. Cannot work at any insurance agency during this time - not even as a receptionist at an agency.

To Get Back: After 5 years, must submit an affidavit proving improved character and trustworthiness.

Agent Lisa - SUSPENDED (6 months)

What She Did: Failed to complete CE requirements for 2 cycles and ignored Department notices.

Consequence: License suspended for 6 months. Cannot sell insurance during suspension.

To Get Back: Complete missing CE, pay fines, and apply for reinstatement immediately when suspension ends.

Important Rules

  • !A producer cannot avoid disciplinary hearing by submitting license for cancellation
  • !All licenses are property of the State and must be returned upon suspension, revocation, or expiration
  • !Failure to maintain surplus lines bond = voided surplus lines authority

5. Contractual Relationships (Appointments)

An insurer authorized in NJ may appoint anyone who holds a valid producer license as its agent. This creates the insurer-producer relationship.

15 Days to Notify of Appointment

Insurer must notify the Department of appointment within 15 days after contract execution OR within 15 days after first application is submitted

15 Days to Notify of Cancellation

If insurer cancels agency contract, must notify Commissioner within 15 days. Failure to do so implies contract still exists.

Agency Contract Must Specify:

  • The lines of authority for which producer may represent the company
  • Duties, responsibilities, and limitations of authority

Both insurer AND producer must maintain a copy. Insurer must verify producer is properly licensed BEFORE executing contract. Insurer cannot accept business produced before the individual was licensed.

Temporary Agent License (Special Circumstances)

Commissioner may issue a temporary license for maximum 180 days, without exam, to:

  • Death/disability of agent: Surviving spouse, court-appointed representative, or business entity member
  • Agent entering military: Agent's designee
  • Public interest: Any person Commissioner deems appropriate

Real-World Example:

The Setup: John, a sole proprietor insurance agent, suddenly dies. His wife Mary has never sold insurance but needs to handle John's existing clients.

Solution: The Commissioner can issue Mary a temporary license (up to 180 days) so she can service John's clients while she either gets fully licensed or sells the business.

Cheat Sheet: Licensing Numbers

Print this for quick reference

18 years old

Minimum age to apply

20 hours

Prelicensing per line

1 year

Exam valid for application

60 days

Temporary work authority

180 days

Temporary license max

2 years

License duration

24 hours

CE every 2 years

3 hours

CE in ethics

10 days

Before expiration to renew

$20 / $100

Renewal / Late renewal fee

1 year

Late renewal window

5 years

Wait after revocation

10 years

Revocation bars business entity

15 days

Notify of appointment/cancellation

30 days

Nonresident notify of address change

90 days

Nonresident to qualify as resident

4 years

Certification of license status available

10 days

Appeal retake exam order

Exam Trap Alerts

1. 20 Hours Per LINE

It's 20 hours for EACH line of authority, not 20 hours total. If getting Property AND Casualty, that's 40 hours.

2. Revocation vs Suspension

Revocation = 5 year wait. Suspension = can reapply immediately when suspension ends. Know the difference!

3. 60 Days vs 180 Days

Temporary WORK authority = 60 days max. Temporary LICENSE (death/disability/military) = 180 days max. Don't mix them up!

4. Cannot Escape Discipline

If you're facing disciplinary action, you CANNOT avoid it by surrendering your license. The action continues.

5. Surplus Lines = NJ Resident + P&C License

To be a surplus lines agent, you must be a NJ resident AND hold Property & Casualty license. Both requirements!

6. License Belongs to the STATE

Your license is state property. When suspended, revoked, or expired, you MUST return it to the Department.

Quick Reference Summary

Getting Licensed

18+ years, 20 hrs per line, pass exam within 1 year, fingerprints, good character

License Duration

2 years, expires on birth month, renew 10 days before, $20 fee ($100 late)

Continuing Education

24 hours every 2 years, including 3 hours of ethics

After Revocation

Wait 5 years, submit affidavit, cannot work with licensed producers

Surplus Lines

NJ resident + P&C license required

Appointments

15 days to notify Commissioner of appointment OR cancellation