State Requirements

Business Rules

• There must be no serious RIRS  actions for the applicant. Please contact the state for additional information, if applicable.

• All Business entities must:

  • Register with the Secretary of State prior to becoming licensed in Puerto Rico and submit Certificate of Authorization to do Business in Puerto Rico

  • Designate an individual that resides in Puerto Rico as its contact for auditing and examination purposes. This individual must be able to, upon our request, provide evidence of the company’s insurance transactions in Puerto Rico. Please submit a letter with the name, telephone, fax, mailing address, physical address, and email to cumplimiento@ocs.pr.gov

  • At least one Authorized Person must be listed as a Designated Responsible Licensed Producer (DRLP) on the business application

  • At least one DRLP on the business application that is an Authorized Person must hold all lines of authority as the business license (exception: business licenses with no lines of authority or “None”)

  • At least one DRLP on the business application must be Owner/Partner/Officer/Director (OPOD) of the business

  • At least one OPOD listed as a DRLP must hold all lines requested on the application (exceptions: General Agent, Surplus Lines Broker, Viatical Settlements Broker)

• Business entity amendments will be reviewed by Puerto Rico. Please note that although fees for business entity amendments are collected by Puerto Rico and not NIPR, there will be a NIPR fee assessed for your electronic transaction. The application will be pending until Puerto Rico has received all fees. Please contact the state with any questions.

• Applicant must have an appointment with an insurer for the following license classes to become a valid license: Authorized Representative, Attorney-In-Fact, and General Agent. Please be sure to submit application for appointment once the license is approved and is displaying on the  Producer Database. If the license is not displaying on the Producer Database, the appointment will be declined.

• Authorized Representative may not be held simultaneously with Insurance Producer license.

• Consultant applicants are required to submit a $25,000.00 bond to the state. The bond must be in favor of the Commonwealth of Puerto Rico and sent to the Office of the Commissioner of Insurance of Puerto Rico. A copy can be submitted after application is completed to cumplimiento@ocs.pr.gov in order to process the license but original bond is required for it to become valid. Bond must be notarized. If notary is outside of Puerto Rico, a copy of the Notary's certificate from the Secretary of State must be provided with bond. Applications will be deferred to the state for verification.

• Disability and Health Services lines of authority must be applied for at the same time or application will not be accepted.

• General Agent license may not be held simultaneously with an Insurance Producer license.

• Insurance Consultant license may not be held simultaneously with any license type outside of Insurance Producer.

• Property and  Casualty must be applied for at the same time or application will not be accepted.

• Surplus Lines Broker applicants must hold an active Insurance Producer or Authorized Representative license to apply and are required to hold a $25,000 bond. The bond must be in favor of the Commonwealth of Puerto Rico and sent to the Office of the Commissioner of Insurance of Puerto Rico. A copy can be submitted after application is completed to cumplimiento@ocs.pr.gov in order to process the license but original bond is required for it to become valid. Bond must be notarized. If notary is outside of Puerto Rico, a copy of the Notary's certificate from the Secretary of State must be provided with bond. Applications will be deferred to the state for verification.

• Variable Life and Variable Annuity applicants must hold active Life line of authority within the same class or being applying for Life at the same time.

• Viatical Settlements Investment Agent applicants must hold active Authorized Representative license with Life and Variable Life and Variable Annuity lines of authority, to apply and must provide one (1) Designated Responsible Licensed Producer (DRLP) with an active Authorized Person license and Life line of authority.

• If applicant responds "yes" to one of the background questions please submit supporting documents electronically via NIPR's Attachments Warehouse. The documents may also be submitted to the state via mail, email, or fax.

• Adjuster Licensing Information (Business Entity)
  • Important Note: Applicants must list at least one Designated Responsible Licensed Producer (DRLP) that holds an Authorized Person license with the same lines of authority as the business entity applying for.
  • Business entities must be registered with the Secretary of State prior to becoming licensed in Puerto Rico. Applicant can register at https://prcorpfiling.f1hst.com/. All applications will be deferred to Puerto Rico for verification and will not be processed until this is complete.

• Please review the requirements below:
  • Public Adjusters:
    • Must not hold any other license type with Public Adjuster license.
    • Fee will be charged per DRLP listed on the application.
    • Are required to submit a $10,000.00 bond per Authorized Person acting on behalf of the business and listed as a DRLP on the application. The bond must be in favor of the Commonwealth of Puerto Rico and sent to the Office of the Commissioner of Insurance of Puerto Rico. A copy can be submitted after application is completed to cumplimiento@ocs.pr.gov in order to process the license but original bond is required for it to become valid. Bond must be notarized. If notary is outside of Puerto Rico, a copy of the Notary's certificate from the Secretary of State must be provided with bond.

• • Independent Adjuster:
    • Must not hold any other license type with Independent Adjuster license.
    • Fee will be charged per DRLP listed on the application.
  • Emergency Independent Adjuster:
    • Must not hold any other license type with Emergency Independent Adjuster license.
    • Submit a copy of professional licenses, if applicable. Professional licenses may include, but not limited to real estate, attorney, accountant, etc.
    • Must submit required documentation by email to cumplimiento@ocs.pr.gov within 15 days of submitting application. If documentation is not received within the 15-day period, the license will be revoked. Applicant will need to reapply and resubmit license fee.
    • License will be issued for 6 months and will not be renewable. Some exceptions may be made if requested in person or in writing directly to the Office of the Commissioner of Insurance of Puerto Rico.
  • Emergency Public Adjusters:
    • Must not hold any other license type with Emergency Public Adjuster license.
    • Are required to submit a $10,000.00 bond per Authorized Person acting on behalf of the business and listed as a DRLP on the application. The bond must be in favor of the Commonwealth of Puerto Rico and sent to the Office of the Commissioner of Insurance of Puerto Rico. A copy can be submitted after application is completed to cumplimiento@ocs.pr.gov in order to process the license but original bond is required for it to become valid. Bond must be notarized. If notary is outside of Puerto Rico, a copy of the Notary's certificate from the Secretary of State must be provided with bond.
    • Submit a copy of professional licenses, if applicable. Professional licenses may include, but not limited to real estate, attorney, accountant, etc.
    • Must submit required documentation by email to cumplimiento@ocs.pr.gov within 15 days of submitting application. If documentation is not received within the 15-day period, the license will be revoked. Applicant will need to reapply and resubmit license fee.
      • License will be issued for 6 months and will not be renewable. Some exceptions may be made if requested in person or in writing directly to the Office of the Commissioner of Insurance of Puerto Rico.

• For more information and requirements regarding Emergency Public and Emergency Independent Adjuster licensing please review Normative Letter Num. CN-2017-223-D from the Commissioner of Insurance of Puerto Rico.