VIRGIN ISLANDS Non-Resident Licensing for Individuals

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State Announcements

There are no announcements for Virgin Islands at this time.

Primary Rules (Individual)

Response

Question

Yes

Accepts initial license for individuals electronically.

Yes

Accepts major lines of authority.

Yes

Accepts limited lines of authority.

Yes

Accepts surplus lines for individuals.

Yes

Applicant can add a line of authority (amend) to an existing active license.

Yes

Applicant can reinstate/reapply through NIPR's Non-Resident License Application.

Yes

License printing available electronically.

License Printing

To print your license, click the state on NIPR's Producer Licensing Map.

Business Rules (Individual)

Applicant must be at least eighteen (18) years old or older as determined from the applicant's date of birth.

Applicant must not hold an active resident Virgin Island license while applying for a non-resident Virgin Island license.

Applicants address must match current PDB record for resident state.

Applicants with a status reason of revoked or suspension-admin action in any jurisdiction may not apply electronically. Applicant will need to contact the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation for more information on how to apply.

Amendments are allowed on active licenses or when reinstating license.

Insurance Producer applicants will need to determine and select on the state specific question page if the applicant will be acting as an agent of the insured. Applicant must answer Yes or No.

  • If applicant answers Yes, Insurance Producers acting as an agent on behalf of the insured will be required to have an appointment from all companies that they will be presenting. If appointment is not submitted after the license displays on PDB, the license will be inactivated by the U.S. Virgin Islands.

  • If applicant answers No, Insurance Producer application will be deferred to the state for further review. All applicants must provide an original copy of a bond in favor of the Government of the Virgin Islands for $10,000 and secured through a company licensed to conduct business in Virgin Islands. Copy of bond must be faxed to start application process, once original has been mailed and received by U.S VI the application can be complete.

Managing General Agent applicants must actively hold an Insurance Producer license on the Producer Database. Applicant must submit a copy of the contract with the insurer, along with a bond of $50,000 or in the amount of 10% of total premiums, not exceeding $500,000. Bond must be in favor of the Government of Virgin Islands and secured through a company licensed to conduct business in the U.S. Virgin Islands. Copy of bond must be faxed to start application process, once original has been mailed and received by U.S Virgin Islands the application can be complete.

Personal Lines applicant can apply for Property OR Casualty lines of authority but not both. Property, Casualty, and Personal Lines cannot be held or applied for simultaneously.

Property and Casualty line of authority applicants cannot apply for Personal Lines. Personal Lines is included in the major lines of Property and Casualty.

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. All other required documentation must be forwarded directly to the state.

For phone, email, and fax number to submit documents or questions concerning documentation requirements to process your application please visit http://www.nipr.com/state_contacts/virgin_islands_state_contact.htm for the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation contact information page. Failure to submit requested documentation can result in license application being denied.

State Offerings (Individual)

Please note that license class names can vary by

License Class

Line of Authority (LOA)

Insurance Producer

Life

Insurance Producer

Accident & Health or Sickness

Insurance Producer

Variable Life and Variable Annuities

Insurance Producer

Property

Insurance Producer

Casualty

Insurance Producer

Personal Lines

Insurance Producer

Car Rental

Insurance Producer

Credit

Insurance Producer

Surety

Insurance Producer

Title

Insurance Producer

Travel

Managing General Agent

None

Surplus Lines Broker

None

License Fees (Individual)

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

If application is received between October and December, applicant will need to pay full licensing fee. No prorating and no blackout periods.

License Class

Fee *

Reinstatement Fee *

Insurance Producer

$700.00

$700.00

Managing General Agent

$850.00

$850.00

Surplus Lines Broker

$500.00

$500.00

Line of Authority Addition (Amendment)

$50.00

$50.00

* Per transaction.

Contacts

Last Update: 9/14/2018

VIRGIN ISLANDS Non-Resident Licensing for Business Entities

APPLY HERE

State Announcements

There are no announcements for Virgin Islands at this time.

Primary Rules (Business Entity)

Response

Question

Yes

Accepts initial license for business entities electronically.

Yes

Accepts major lines of authority.

Yes

Accepts limited lines of authority.

Yes

Accepts surplus lines of business entities.

Yes

Applicant can add a line of authority (amend) to an existing active license.

Yes

Applicant can reinstate/reapply through NIPR's Non-Resident License Application.

Yes

License printing available electronically.

License Printing

To print your license, click the state on NIPR's Producer Licensing Map.

Business Rules (Business Entity)

Applicant must be one of the following legal business types:

  • Corporation
  • Partnership
  • Limited Liability Company (LLC)
  • Limited Liability Partnership (LLP)
  • Sole Proprietorship

At least one (1) Designated Responsible Licensed Producer must be provided on the application and have an active resident or non-resident license in the Virgin Islands.

The Designated Responsible Licensed Producer(s) must cumulatively cover all lines of authority with in the same license class listed on the application.

Applicants with a status reason of revoked or suspension-admin action in any jurisdiction may not apply electronically. Applicant will need to contact the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation for more information on how to apply.

Insurance Producer applicants will need to determine and select on the state specific question page if the applicant will be acting as an agent of the insured. Applicant must answer Yes or No.        

  • If applicant answers Yes, Insurance Producers acting as an agent on behalf of the insured will be required to have an appointment from all companies that they will be presenting. If appointment is not submitted after the license displays on PDB, the license will be inactivated by the U.S. Virgin Islands.
  • If applicant answers No, Insurance Producer application will be deferred to the state for further review. All applicants must provide an original copy of a bond in favor of the Government of the Virgin Islands for $10,000 and secured through a company licensed to conduct business in Virgin Islands. Copy of bond must be faxed to start application process, once original has been mailed and received by U.S VI the application can be complete.

Managing General Agent applicants must actively hold an Insurance Producer license on the Producer Database. Applicant must submit a copy of the contract with the insurer, along with a bond of $50,000 or in the amount of 10% of total premiums, not exceeding $500,000. Bond must be in favor of the Government of Virgin Islands and secured through a company licensed to conduct business in the U.S. Virgin Islands. Copy of bond must be faxed to start application process, once original has been mailed and received by U.S Virgin Islands the application can be complete. 

Personal Lines applicant can apply for Property OR Casualty lines of authority but not both. Property, Casualty, and Personal Lines cannot be held or applied for simultaneously.
Property and Casualty line of authority applicants cannot apply for Personal Lines. Personal Lines is included in the major lines of Property and Casualty.

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. All other required documentation must be forwarded directly to the state.

State Offerings (Business Entity)

License Class

Line of Authority (LOA)

DRLP Required

Insurance Producer

Life

Yes

Insurance Producer

Accident & Health or Sickness

Yes

Insurance Producer

Variable Life and Variable Annuities

Yes

Insurance Producer

Property

Yes

Insurance Producer

Casualty

Yes

Insurance Producer

Personal Lines

Yes

Insurance Producer

Car Rental

Yes

Insurance Producer

Credit

Yes

Insurance Producer

Surety

Yes

Insurance Producer

Title

Yes

Insurance Producer

Travel

Yes

Managing General Agent

None

Yes

Surplus Lines Broker

None

Yes

Independent Adjuster

None

Yes

Public Adjuster

None

Yes

License Fees (Business Entity)

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

If application is received between October and December, applicant will need to pay full licensing fee. No prorating and no blackout periods.

License Class

Fee *

Reinstatement Fee *

Insurance Producer

$700.00

$700.00

Managing General Agent

$850.00

$850.00

Surplus Lines Broker

$500.00

$500.00

Independent Adjuster

$500.00

$500.00

Public Adjuster

$500.00

$500.00

* Per transaction.

Contacts

Last Update: 9/14/2018

APPLY HERE