We license individuals and companies in more than 25 industries, including insurance. There is a variety of information for the following insurance industry professionals:
Effective July 1, 2013, the appointment fee paid by insurers when they register an agent with the Department of Commerce will be $30. This new amount is in line with the appointment fees charged by other states and represents the first adjustment to Minnesota’s appointment fee in 12 years.
This fee is paid only once per appointment and is perpetual. In other words, there is no ongoing fee to renew the appointment, as is the case in some other states. There is also no separate state fee to terminate the appointment.
In terms of overall business costs paid by or on behalf of insurance producers, the fee change is partially offset by a decrease in the Technology Surcharge that is paid by insurance producers and adjusters. The Technology Surcharge has been imposed since 2007 and supports the operation and maintenance of the electronic licensing systems used by insurance professionals and other individuals and businesses licensed by the Department of Commerce. The fee was reduced to $25 earlier this year.
Visit our Insurance website for detailed information on insurance licensing.