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Agencies

 

Corporate or Partnership Agency 

  1. Complete Agency license application online at Sircon.
    • At least one Minnesota designated responsible licensed producer must be associated with the agency.
  2. If the Resident Agency is a corporation, email to the Commerce Department a copy of your Articles of Incorporation that have been filed and stamped by the Secretary of State in your state of domicile. 
  3. If the Resident Agency is a partnership, email to the Commerce Department a copy of the partnership agreement signed by all partners. 
  4. If the Resident Agency is a Limited Liability Company or other Business Entity, email to the Commerce Department a copy of the Business Organization documents.
  5. If the Agency is incorporated in another jurisdiction and intends to do business in Minnesota (i.e., has Minnesota resident producers), email to the Commerce Department a copy of the Certificate of Foreign Corporation issued by the Minnesota Secretary of State
    • Agencies are not licensed for specific lines of authority. An Agency's lines of authority correspond to the lines of authority of the individual producers affiliated within the Agency. 
    • Agencies are not required to be appointed by insurance companies.

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Individual Proprietorship Agency 

  1. Complete Agency license application online at Sircon.
    • At least one Minnesota designated responsible licensed producer must be associated with the agency.
  2. An individual proprietor agency name must include the individual proprietor’s name, for example John Doe Agency or John Doe Insurance.  An individual proprietor who intends to do business using an agency name that does not include the individual's first and last name must email to the Commerce Department a copy of Certificate of Assumed Name that has been filed and stamped by the Minnesota Secretary of State.
  3. Agencies are not licensed for specific lines of authority. An Agency's lines of authority correspond to the lines of authority of the individual producers affiliated within the Agency. 
  4. Agencies are not required to be appointed by insurance companies.
  5. An individual proprietor agency license is a perpetual license which will remain active until the individual’s producer license goes inactive. 

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Portable Electronics Insurance Vendor

A business entity in the business of engaging in portable electronics transactions, directly or indirectly, is required to hold a limited lines license to sell or offer coverage under a policy of portable electronics insurance in connection with, and incidental to, a portable electronics transaction with a customer.

The following must be submitted for a Portable Electronics Insurance Vendor license:

Complete the License Application.

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Travel Insurance Producer

A business entity acting as an insurer designee (such as a managing general underwriter, managing general agent, or licensed limited lines producer of travel insurance) that directs a travel retailer that offers and disseminates travel insurance on its behalf is required to hold a Travel Insurance Business Entity Producer license. As used here, “travel insurance” means insurance coverage for personal risks incident to planned travel, including, but not limited to interruption or cancellation of trip or event; loss of baggage or personal effects; damages to accommodations or rental vehicles; or sickness, accident, disability, or death occurring during travel. “Travel insurance” as used here does not include major medical plans that provide comprehensive medical protection for travelers with trips lasting six months or longer, including those working overseas as an expatriate or military personnel being deployed.

Complete the License Application.

Important Information for Travel Agencies and Agents Regarding Travel Insurance

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Managing General Agent

Under Minnesota law, a managing general agent is a person, firm, association or corporation who (1) manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office, and (2) acts as an agent for the insurer whether known as a managing general agent, manager, or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross direct written premium equal to or more than five percent of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year, together with one or more of the following activities related to the business produced: (i) adjusts or pays any claim exceeding $5,000, or any combination of claims, the aggregate of which exceeds $25,000, in any 12 consecutive months, or (ii) negotiates reinsurance on behalf of the insurer.

A managing general agent representing an insurer licensed in Minnesota with respect to risks located in Minnesota must be licensed in Minnesota.

A managing general agent representing an insurer domiciled in Minnesota with respect to risks located outside Minnesota must be licensed in Minnesota as a managing general agent. The license may be a nonresident license.

The following persons do not require licensure as a managing general agent: 

  • an employee of the insurer; 
  • a United States manager of the United States branch of an alien insurer; 
  • an underwriting manager who, pursuant to contract, manages all or a part of the insurance or reinsurance operation of the insurer, is under common control with the insurer, subject to the Insurance Holding Company Act, chapter 60D, and whose compensation is not based on the volume of premiums written; or 
  • an attorney in fact authorized by and acting for the subscribers of a reciprocal insurer or interinsurance exchange under powers of attorney.

Contact Licensing staff at licensing.commerce@state.mn.us licensing.commerce@state.mn.us to request an application form

  1. Attach a list of all Minnesota-licensed insurance producers affiliated with the agency, including each producer's full name and license number. At least one Minnesota-licensed insurance producer (resident or non-resident) must be working for the agency.
  2. A managing general agent is required to have in effect a written contract with the insurer for which it acts as a managing general agent. A copy of the contract must be attached and submitted with the managing general agent application. Requirements for minimum contractual terms are set forth in Minn. Stat. §60H.
  3. If the Resident Agency is a corporation, attach a copy of your Articles of Incorporation that have been filed and stamped by the Secretary of State in your state of domicile. 
  4. If the Resident Agency is a partnership, attach a copy of the partnership agreement signed by all partners. 
  5. If the Resident Agency is a Limited Liability Company or other Business Entity, attach a copy of the Business Organization documents.

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Reinsurance Intermediary

Under Minnesota law, "reinsurance intermediary" means either a reinsurance intermediary-broker or a reinsurance intermediary-manager. A reinsurance intermediary-broker is any 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 this insurer. A reinsurance intermediary-manager is any person, firm, association, or corporation who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for that reinsurer whether known as a reinsurance intermediary-manager, manager, or other similar term. But the following persons are not considered a reinsurance intermediary-manager, with respect to that reinsurer, for the purposes of Minnesota's Reinsurance Intermediary Act:

  • an employee of the reinsurer
  • a United States manager of the United States branch of an alien reinsurer
  • an underwriting manager which, pursuant to contract, manages all or part of the reinsurance operations of the reinsurer, is under common control with the reinsurer, subject to the Insurance Holding Company Act, chapter 60D, and whose compensation is not based on the volume of premiums written
  • the manager of a group, association, pool, or organization of insurers which engage in joint underwriting or joint reinsurance and who are subject to examination by the insurance commissioner of the state in which the manager's principal business office is located

In addition, licensed attorneys at law of Minnesota, when acting in their professional capacity as such, are exempt from licensure as a reinsurance intermediary. 

No person, firm, association, or corporation may act as a reinsurance intermediary-broker in Minnesota if the reinsurance intermediary-broker maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation:

  • in Minnesota, unless the reinsurance intermediary-broker is a licensed producer in Minnesota
  • in another state, unless the reinsurance intermediary-broker is a licensed producer in Minnesota or another state having a law substantially similar to Minnesota's Reinsurance Intermediary Act or the reinsurance intermediary-broker is licensed in Minnesota as a nonresident reinsurance intermediary.

No person, firm, association, or corporation may act as a reinsurance intermediary-manager:

  • for a reinsurer domiciled in Minnesota, unless the reinsurance intermediary-manager is a licensed producer in Minnesota
  • in Minnesota, if the reinsurance intermediary-manager maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employee of a corporation in Minnesota, unless the reinsurance intermediary-manager is a licensed producer in Minnesota
  • in another state for a nondomestic insurer, unless the reinsurance intermediary-manager is a licensed producer in Minnesota or another state having a law substantially similar to Minnesota's Reinsurance Intermediary Act or the person is licensed in Minnesota as a nonresident reinsurance intermediary. 

The license issued to a firm or association authorizes all the members of the firm or association and any designated employees to act as reinsurance intermediaries under the license. These persons must be named in the license application and any supplements to it.

The license issued to a corporation authorizes all of the officers and any designated employees and directors of the corporation to act as reinsurance intermediaries on behalf of the corporation. These persons must be named in the license application and any supplements to it.

Non-resident Reinsurance Intermediary Broker

  1. Complete license application online at Sircon.
  2. Provide a list of all members and designated employees by emailing it to the Commerce Department.
  3. Provide  Appointment of Commissioner as Attorney for Service of Process by emailing it to the Commerce Department.
  4. Designate a resident of this state upon whom notices or orders of the Commissioner or process may be served.  Provide the name, address, and telephone number by emailing the information to the Commerce Department.

Non-resident Reinsurance Intermediary Manager

  1. Complete license application online at Sircon.
  2. Provide a list of all members and designated employees by emailing it to the Commerce Department.
  3. Provide  Appointment of Commissioner as Attorney for Service of Process by emailing it to the Commerce Department.
  4. Designate a resident of this state upon whom notices or orders of the Commissioner or process may be served.  Provide the name, address, and telephone number by emailing the information to the Commerce Department.
  5. If required, provide the Declaration page of any Fidelity and Errors and Omissions Ins Policies or Bonds naming applicant and its several members which may be considered to meet the req. if MN Stat. #60A.71, Subd. 3 by emailing it to the Commerce Department.

Resident Reinsurance Intermediary Broker

Contact Licensing staff at licensing.commerce@state.mn.us to request an application form.

Resident Reinsurance Intermediary Manager

  1. Contact Licensing staff at licensing.commerce@state.mn.us to request an application form.
  2. If required, provide the Declaration page of any Fidelity and Errors and Omissions Ins Policies or Bonds naming applicant and its several members which may be considered to meet the req. if MN Stat. #60A.71, Subd. 3 by emailing it to the Commerce Department.

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