State Requirements

Business Rules

• Applicants Please Read: 
  • Once your application has been submitted to the State of Wisconsin, you will have 90 days to submit any required information/requirements. Failure to supply the required documentation will cause your application to be CLOSED as EXPIRED. Fees are non-refundable.
  • If you applied for a license type in error, you will need to submit a written request to our office requesting the withdrawal of the application. The application process and the withdrawal of the application represents an administrative expense for the agency and, therefore, the fees are non-refundable.
  • 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.

• Wisconsin does NOT require a firm to be licensed, however, the option to obtain the license is available. A firm has no authority to transact insurance business in our state — the authority to transact insurance business lies with the Designated Responsible Producer (DRLP) and the lines of authority they actively hold.

• Business address must be in Wisconsin and cannot be a PO Box.

• Business Entity applicants must be one of the Legal Business Types listed below:
  • Partnership
  • Limited Liability Company (LLC)
  • Limited Liability Partnership (LLP)
  • Corporation
  • Sole Proprietorship

• At least one (1) Designated Responsible Licensed Producer (DRLP) must be listed on the application and hold an active resident or non-resident Intermediary (Producer) Individual license in Wisconsin for applicable licenses. Please see State Offerings section below.

• Note: An affiliation is not required, and the applicant may skip the "Affiliations" page on the uniform application.

• Employee Benefit Plan Administrators applicants must submit the following to the state:
  • Proof of a new original Performance Bond (signed & sealed) between $15,000.00 and $500,000.00.
  • Financial Statements for the administrator's most recent completed fiscal year. (balance sheet & income statement). NOTE: The financial statements must be those of the applicant. If the financial statements combine the applicant with parent or affiliated entities, they must include a deconsolidation spreadsheet breaking out the applicant's balance sheet and income statement. Statements are not required to be audited.
  • Applicants must mail original performance bond directly to the state. All other documentation may be submitted via email at ociagentlicensing@wisconsin.gov.

• Intermediary (Producer) Firm means, agency, business entity, corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity.  Intermediary Firm license on the Producer Database and license certificate will display as Intermediary (Producer) Firm on the online application to help Producers select the correct license class. These two license class names are the same.

• Life Settlement Firm (Viatical Settlement) applicants must submit the following to the state:
  • An original endorsement from a licensed insurer identifying professional liability insurance held in an amount not less than $1 million total annual aggregates.
  • A list of licensed providers and provide the name and addresses of companies the broker will be representing.
  • Provide copy of certificate of completion issued to the designated responsible Wisconsin-licensed individual representative regarding the 8-hour training requirement.
  • Applicants can e-mail the documentation to the state.

• Managing General Agent Firm applicants must have at least one DRLP licensed with an active Managing General Agent Individual license in the state of Wisconsin (resident or non-resident).

• Pharmacy Benefit Manager applicants must submit the following to the state:
  • Proof of a new original Performance Bond (signed & sealed) between $15,000.00 and $500,000.00.
  • Financial Statements for the administrator's most recent completed fiscal year. (balance sheet & income statement). NOTE: The financial statements must be those of the applicant. If the financial statements combine the applicant with parent or affiliated entities, they must include a deconsolidation spreadsheet breaking out the applicant's balance sheet and income statement. Statements are not required to be audited.
  • Applicants must mail original performance bond directly to the state.
     
• Travel Insurance Firm applicants must have at least one DRLP licensed with an active Intermediary (Producer) Individual license with the Travel line of authority in the state of Wisconsin (resident or non-resident).
   
• Risk Purchasing Group and Rate Service Organization applicants will be considered reapplication following the expiration date.
   
• Rate Service Organization (RSO) applicants must submit the following upon submission of initial application:
  • Complete and submit Form OCI 26-041 to the WI OCI along with the below required documentation.
    1. A copy of the entity’s constitution, charter, articles of organization, agreement, association, or incorporation.
    2. A copy of entity bylaws.
    3. A copy of the plan of operation.
    4. Copies of any other rules or regulations governing the conduct of business.
    5. A list of members and subscribers.
    6. The name and address of at least one resident of Wisconsin on whom notices and process affecting order of the commissioner may be served.
    7. A statement showing the entity’s technical qualifications to act as a rate service organization Such statement shall include, but is not limited to:
       • The names of those states in which the applicant is currently licensed as a rate service organization.
       • The length of the time the applicant has operated in other jurisdictions as a rate service organization.
       • The action, if any, other states have taken against the applicant's license in those jurisdictions.
       • The type of rate services applicant has provided in other states.
       • A description of the kinds of insurance, or subdivisions or classes of risks or parts or combinations thereof, the applicant will transact as a rate service organization in Wisconsin .
  • The form can be found via the following link https://oci.wi.gov/Pages/Agents/Rate-Service-Organization.aspx. Supporting documentation should be emailed to ociagentlicensing@wisconsin.gov.
     
• Risk Purchasing Group (RPG) registrants must submit the following upon initial application:
  • Entity must complete and submit form Registration for Risk Purchasing Group 26-044 to the WI OCI. Form includes requests on the following:
    1. Demographic Information
    2. Estimated Premium
    3. Classification of Insurance Written
    4. Wisconsin Licensed Agent Information
    5. Insurance Company Information
  • Entity must complete and submit form Agreement for Service of Process OCI 26-802 to the WI OCI.
  • The form can be found via the following link https://oci.wi.gov/Pages/Agents/Risk-Purchasing-Group.aspx. Supporting documentation should be emailed to ociagentlicensing@wisconsin.gov.