Guam / Resident Licensing / Business

Fees

Fees shown are state fees only. These fees do not include NIPR transaction fees.

Per application.

Insurance Producer

Fee:

$25

Amendment fee:

$25

Reinstatement fee:

$25

Broker

Fee:

$100

Amendment fee:

$100

Reinstatement fee:

$100

Surplus Lines Broker

Fee:

$100

Amendment fee:

$100

Reinstatement fee:

$100

Adjuster

Fee:

$100

Amendment fee:

$100

Reinstatement fee:

$100

Lines of Authority

Please note that license class names can vary by state.

Insurance Producer

DRLP Required

Accident & Health, Casualty, Credit, Fidelity & Surety, Life, Personal Lines, Property, Title, Variable Life & Annuity, Workmen's Comp

Broker

DRLP Required

Accident & Health, Credit, Fidelity & Surety, Property, Casualty, Life, Title, Workmen's Comp

Surplus Lines Broker

DRLP Required

Accident & Health, Credit, Fidelity & Surety, Life, Property, Casualty, Workmen's Comp

Adjuster

DRLP Required

Accident & Health, Casualty, Fidelity & Surety, Property, Workmen's Comp

Rules and Regulations

Applicant Can

Submit initial license for Business Entities electronically.
Submit for major lines of authority.
Submit for limited lines of authority.
Submit for Surplus Lines for Business Entities.
Add lines of authority (amend) to an existing active license.
Reinstate/reapply through NIPR's Resident License (RL) Application.
Print licenses electronically.

Business Rules

Applicants must be one of the Legal Business Types listed below. 
- Partnership 
- Corporation 
- Sole Proprietorship
Applicants must list at least one actively licensed Designated Responsible Licensed Producer (DRLP) on the business entity application. 
The list of DRLP’s lines of authority must cover all lines requested by the business entity.
Applicants must list at least one Owner, Partner, Officer or Director on the application.
Applicants must actively hold or be applying for Insurance Producer Life when applying for Insurance Producer Variable Life and Annuity.
Applicants applying for Variable Life and Annuity must enter FINRA CRD number as part of the application.
Applicants cannot apply for new lines of authority while holding a license that is in a renewal period. Please renew license before applying for new lines of authority.
All license classes must reapply the day after license expiration date.
Applicant must hold an active Broker license to be eligible for Surplus Lines Broker.
Applicants with a status reason of Revocation cannot reapply for 90 days from the date the license was revoked.
Applicants with a status reason of Withdrawn must reapply as a new applicant regardless of expiration date. 
Applications for the following license classes will be reviewed by Guam for Supplemental Documentation:
- RESIDENT BUSINESS ENTITY INSURANCE PRODUCER:
  - Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf
- RESIDENT ADJUSTER:
  - Form I-9 Tax Clearance - https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf
- RESIDENT BUSINESS BROKER:
  - Bonafide place of business (If building owned, letterhead with address will suffice. If renting, current lease agreement is required).
  - Audited Financial Statement (unaudited financial statements must be signed by Accountants or President and Treasurer for corporate brokers and notarized).
  - Proof of Errors and Omission Coverage (for Life only).
  - Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf
  - Proof of Trust Account – copy of bank trust account statement.
  - Premium Fund Trust Account Report (PFTA) – must be notarized. https://www.govguamdocs.com/revtax/docs/PremiumTrustFundAccountAffidavit.pdf
- RESIDENT BUSINESS SURPLUS LINE BROKER:
  - Form I-9 Tax Clearance –https://www.govguamdocs.com/revtax/docs/TAXCLEARANCEAPPLICATIONFORM.pdf
  - Bonafide place of business (If building owned, letterhead with address will suffice. If renting, current lease agreement is required).
  - Audited Financial Statement (unaudited financial statements must be signed by Accountants or President and Treasurer for corporate brokers and notarized).
  - Proof of Trust Account – copy of bank trust account statement.
  - Surety Bond of $2,000 (Original bond must be submitted and term of the bond must coincide with the term of license period).
  - Service of Suit OR Agreement & Power of Attorney OR Other Court Process
  - Surplus Lines Yearly Insurance Statement for previous year (Copy of all last year approval letter to be attached on the yearly surplus lines statement for renewal only).
  - Copy of paid Form I-8 with 2% assessment tax to reconcile with the amounts stated on the yearly statement (Commercial & Industrial) Liability Premium for renewal only).
  - Copy of paid 5% Premium Tax to reconcile with amounts stated on the yearly statement (Do not submit details of GRT payments, only the page with stamped paid for renewal only).
  - Reconciliation of Premium Trust Fund Account (Bank Statement ending December 31 of previous year).
Please submit supporting documents electronically via NIPR's Attachments Warehouse.
Adjuster license cannot actively be held simultaneously with an Insurance Producer, Broker, General Agent or Surplus Lines Broker license. 
Insurance Producers must be appointed within 15 days of license approval.  The Insurance Producer license must show active status on the Producer Database BEFORE an appointment may be submitted. If an appointment is not submitted within 15 days of license approval, the license will be inactivated. 
Application information will be reviewed and processed by Guam Department of Revenue and Taxation. Most applications will be processed within 7-10 business days. You may check the status of your application here: https://nipr.com/licensing-center. If your application is approved you may visit the following link to print your license: https://nipr.com/help/print-your-license. If applicant responds "yes" to one of the background questions please submit supporting documents electronically via NIPR's Attachments Warehouse.