U.S. Virgin Islands
Gail Danet-Joseph
Virgin Islands Dept. of Banking, Insurance & Financial Regulation
Appointments & Terminations
Yes
No
No
The system date
Voluntary termination; inadequate production; cancelled by general agent; death; company defunct or liquidation; company indebtedness; poor policyholder service; agent moved; appointed in error; cancelled; cancelled for cause; company merger; revoked; suspended for compliance; request regulatory review
No
Date effective date is the system date
Licensing
Resident New License Insurance Producer Fee: $400 (plus $50 per additional LOA) Resident New License Surplus Lines Broker Fee: $500 Nonresident New License Insurance Producer Fee: $700 (plus $50 per additional LOA) Nonresident New License Surplus Lines Broker Fee: $500
Resident: Insurance Producer Renewal Fee: $200 Late Renewal Fee: $400 Independent Adjuster Renewal Fee: $250 Late Renewal Fee: $500 Managing General Agent Renewal Fee: $450 Late Renewal Fee: $900 Medical Air Representative Renewal Fee: $150 Late Renewal Fee: $300 Public Adjuster Renewal Fee: $250 Late Renewal Fee: $500 Solicitor Renewal Fee: $200 Late Renewal Fee: $400 Surplus Lines Broker Renewal Fee: $500 Late Renewal Fee: $1000 Insurance Producer Renewal Fee: $400 Late Renewal Fee: $800 Managing General Agent Renewal Fee: $450 Late Renewal Fee: $900 Surplus Lines Broker Renewal Fee: $500 Late Renewal Fee: $1000
92 days before expiration
Last day of birth month every 2 years based on year of first state license issue
Late renewal allowed up to one year after expiration
92 days before expiration
Dec. 31 annually
Late renewal allowed up to one year after expiration
No
No
Business and Mailing
Agent, Managing General Agent, Third Party Administrator, Surplus Lines Broker, Solicitor, Property and Casualty, Broker, Independent Adjuster, Public Adjuster, Insurance Producer, Medical Air Representative, Emergency Independent Adjuster
Included in Producer License Class. Insurers are not required to appoint Brokers per NAIC PLMA
A licensed agent may: A. be licensed as a broker; and B. be a broker as to insurers for which he/she is not then licensed as agent. A licensed broker may be licensed as and be an agent as to insurers appointing him/her as agent
No
Tax clearance
Bond
Letter of recommendation
NIPR Gateway
Prior to processing a resident license applicant must submit to the U.S. Virgin Islands three letters of recommendation and a current tax clearance letter from the Bureau of Internal Revenue.
None
Contact Change Request Supported via NIPR Gateway.
Agency
Adjuster
Yes
No LOA required
Licensing Fee: $500 Reinstatement Fee: $500 Renewal Fee: $250 Late Renewal Fee: $500
Yes
Annually, on December 31st. Renewal period is Oct. 1st - Dec. 31st.
DRLP required for business entities.
Licensing Fee: $300.00 Reinstatement Fee: $300.00
Continuing Education
FAQs
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How Do I Get an Insurance License in the U.S. Virgin Islands?
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How Do I Get a State Adjuster License in the U.S. Virgin Islands?
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How Do I renew My Non-Resident Adjuster License in U.S. Virgin Islands?
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How Do I Renew My Adjuster License In U.S. Virgin Islands?