NIPR says I need a CoCode. What is that?

A CoCode, or company code, is a number issued by some states that is specific to that carrier’s business (most often, appointments) in that state. If you have multiple entities in a state, you may have multiple CoCodes just in that state, each with their own login for NIPR and the state portal. Although they can complicate things, CoCodes can also simplify business processes by allowing carriers to automate fee payments from bank accounts specific to those CoCodes.

Insurance Producer Compliance Maintenance

Q: Where can I verify that an agent’s license is active?

You can check an agent’s license status through each state individually, or through NIPR, or in bulk via a license lookup in any software that integrates with those systems.

Challenges

If there’s one good thing about the process of keeping licensed producers in compliance with state department of insurance regulations, it’s that license and appointment renewals occur on a predictable schedule. This makes planning for appointment renewals routine, and if it wasn’t a process that had to be repeated across multiple states for multiple lines of authority (LOAs) for all agents you contract with, it would be a cinch.

Instead, maintaining the full picture of your producers’ license compliance factors in:

Multiple producers
LOAs
Which states they are licensed in and their specific requirements
Continuing education requirements for their state of residence
License renewal timelines
Regulatory actions that may result in terminations, as well as typical licensure lapses
Relevant changes to state requirements via legislative or judicial actions
Changes to an agent’s name, address, or other basic information

For all involved, producer compliance maintenance consists of filling out applications, paying fees, and keeping tabs on information flowing from every different direction.

Best Practices

The most accurate, efficient, and effective way to manage producer license renewals, appointment renewals, and even terminations is by implementing the right technology for the job. A producer compliance management system should be equipped to track every piece of applicable data about each producer and agency

It’s not enough to simply collect this information a single time, or even on an annual basis. A best-in-class producer licensing management system will also predict issues before they arise. And, by communicating directly with state departments of insurance and other regulatory bodies, the ideal system will eliminate duplicate entries and delays in the flow of information.

1. Where can I verify that an agent’s license is active?

You can check an agent’s licensure status through each state individually, or through NIPR, or in bulk via a license lookup in any software that integrates with those systems.

2. Why use NIPR as a source of truth?

Because NIPR talks to other state systems, their information is always up-to-date, and factors in the numerous regulations specific to each state and region. Additionally, if a state can’t find your producer’s license, NIPR’s audit log can provide a source of validation.

3. How do insurance continuing education (CE) credits work?

CE requirements vary by resident state and line of insurance. In most states, as long as an agent is up to date on the CE requirements of their resident state, it’s considered reciprocal to nonresident states where they may be licensed. There are, however, notable exceptions, such as for adjusters (New York and California do not accept any reciprocal state CE credits).