Current through December 3, 2024
Section 230-RICR-20-50-5.4 - Fee Schedules - Individual LicenseesA. The Department issues two-year licenses. The fees listed below apply to a person obtaining the license during the two-year period even if his or her license will expire in less than two years. The fees for each license type are as follows.B. The fee schedule for the initial and renewal license for the various types of licenses issued to individuals by the Department is as follows: 1. Insurance Producer License Fee (both initial application and renewal). These fees apply to all insurance producers licensed in the major lines of authority (life, accident and health and sickness, property, casualty, variable life and annuity, personal lines - property and casualty); title insurance producers and all limited lines of authority: a. Residents - $120. Fee is calculated by adding $55 per year fee of R.I. Gen. Laws § 27-2.4-4 and the $5 per year Continuing Education tracking fee of R.I. Gen. Laws § 27-3.2-9.b. Nonresidents - $130. Fee is calculated by adding $60 per year fee of R.I. Gen. Laws § 27-2.4-4, $5 per year retaliatory fee and a $5 per year Continuing Education tracking fee of R.I. Gen. Laws § 27-3.2-9.2. Public, Company and Independent Claim Adjusters. Initial and Renewal Application - Resident and Nonresident Claims Adjuster Biennial License Fee: $250 (pursuant to R.I. Gen. Laws § 27-10-3).3. Motor Vehicle Damage Appraisers. Initial and Renewal Application - Resident and Nonresident Motor Vehicle Damage Appraisers Biennial License Fee: $150 (pursuant to R.I. Gen. Laws § 27-10.1-1).4. Surplus Line Brokers (both initial application and renewal). a. Residents and nonresidents - $100.00. Fee is comprised of the $50 per year or part thereof pursuant to R.I. Gen. Laws § 27-3-42.b. An individual is only eligible for a Surplus Lines Brokers license if the individual has a valid Insurance Producers License with Property & Casualty lines of authority. In order to obtain a Surplus Lines Brokers license the individual must apply and pay the above fees in addition to fees charged for the Insurance Producers license. 230 R.I. Code R. 230-RICR-20-50-5.4