Insurance Law

What Are The Licensing Requirements For Nonresidents?

Nonresidents who wish to be licensed as agents, consultants, brokers, adjusters or appraisers in Vermont must apply to the Department of Banking, Insurance, Securities and Health Care Administration. Agents, consultants, brokers, adjusters and appraisers must hold a similar license for a similar line in another state or province of Canada. They must submit the Uniform Application and a certification of current licensing from the Insurance Department of their home state, dated no more than 90 days previous to application.

Individuals seeking a nonresident Workers’ Compensation adjuster license must take and pass the Vermont Workers’ Compensation adjuster exam. They must also meet the educational or training program required by the Commissioner.

For nonresident brokers, the required bond is $5000 or the amount required by the insurance department of the applicant’s home state, whichever is greater.