VIRGIN ISLANDS Resident Licensing for Individuals

APPLY HERE

Primary Rules    |   License Printing    |   Business Rules   |   State Offerings   |   License Fees   |   Contacts and FAQs

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 lines of authority (amend) to an existing active license.

Yes

License printing available electronically.

Yes

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

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.

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

Applicant must not have another active resident state on the producer database.

Applicant must provide a valid Virgin Islands residence, mailing and business address. Address may not contain a P.O. Box.

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.

All first time resident applicants must submit to the U.S. Virgin Islands three letters of recommendation and a current tax clearance letter from the Bureau of Internal Revenue.

Emergency Independent Adjuster applicants will need to inform U.S. Virgin Islands of the physical address the applicant will be residing while working in the U.S. Virgin Islands once residence is established and if it is different than the address submitted in the application. This may apply to foreign country applicants that have not established residency.

Emergency Independent Adjuster applicants will need to supply the Company Name and NAIC company code (cocode) for at least insurer (carrier) that is actively license on the Producer Database for the U.S. Virgin Islands.

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.

Public Adjuster applicants must provide proof of a bond in favor of the Government of the Virgin Islands for $5,000 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.

Solicitor applicants are required to have an affiliation appointment from the Insurance Producer all companies that they will be representing. If an affiliation appointment is not submitted directly to the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation after the license displays on the Producer Database PDB, the license will be inactivated by the U.S. Virgin Islands. For the Appointment of Solicitor document visit: http://ltg.gov.vi/downloads/forms/b&i/licensees/solicitors.pdf

Surplus Lines Broker applicants must actively hold an Insurance Producer license with Property and Casualty lines for authority on the Producer Database.

Surplus Lines Broker 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 the U.S. Virgin Islands. Copy of bond must be faxed to start application process, once original has been mailed and received by the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation the application can be complete.

Variable Life and Variable Annuity applicants must hold active Life line of Authority or be applying for Life line of Authority at the same time.

Variable Life and Variable Annuity line of authority applicants must supply their FINRA Central Registry Depository (CRD) number on the application.  If you need to verify your CRD number you may use the Broker Search feature found on FINRA’s website.

Variable Life and Variable Annuity line of authority applicants must provide proof of Series 6 – 7 Certification to the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation.

Licenses that have been expired over one year can reinstate using the Resident Licensing application. If the license is within one year, applicant can renew/late renew using the Resident License Renewal Application.

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

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 state.

Amendments are allowed on active licenses or when reinstating license.

Exams are valid for one (1) year from exam date and are applicable to those indicated below.

Applicant is exempt from license exam if: 

  • Applying within 90 days of cancellation of their former resident state’s license.
  • Reapplying within 1 year of license expiration date and license status is Cancelled.

License Class

Line of Authority (LOA)

Exam Required

Insurance Producer

Life

Yes

Insurance Producer

Accident & Health or Sickness

Yes

Insurance Producer

Property

Yes

Insurance Producer

Casualty

Yes

Insurance Producer

Personal Lines

Yes

Insurance Producer

Variable Life and Variable Annuity

Yes

Insurance Producer

Car Rental

No

Insurance Producer

Credit

No

Insurance Producer

Surety

No

Insurance Producer

Title

Yes

Insurance Producer

Travel

No

Managing General Agent

None

No

Medical Air Representative

None

No

Solicitor

Life

Yes

Solicitor

Accident & Health or Sickness

Yes

Solicitor

Property

Yes

Solicitor

Casualty

Yes

Solicitor

Personal Lines

Yes

Solicitor

Variable Life and Variable Annuity

Yes

Solicitor

Surety

No

Solicitor

Title

Yes

Surplus Lines Broker

None

No

Emergency Independent Adjuster

None

No

Independent Adjuster

None

Yes

Public Adjuster

None

Yes

License Fees (Individual)

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

No additional fees are charged to reinstate a license – only initial fee.

License Class

License Fee *

Reinstatement Fee*

Emergency Independent Adjuster

$300.00

$300.00

Independent Adjuster

$500.00

$500.00

Insurance Producer

$400.00

$400.00

Managing General Agent

$850.00

$850.00

Medical Air Representative

$150.00

$150.00

Public Adjuster

$500.00

$500.00

Solicitor

$400.00

$400.00

Surplus Lines Broker

$500.00

$500.00

Amendment – Adding Line of Authority

$50.00

N/A

* Per transaction submitted

Contacts

Last Update: 9/14/2018

VIRGIN ISLANDS Resident Licensing for Business Entities

APPLY HERE

Primary Rules    |   License Printing    |   Business Rules   |   State Offerings   |   License Fees   |   Contacts

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 for business entities.

 Yes

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

Yes

License printing available electronically.

Yes

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

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

Applicant must provide a valid Virgin Islands residence, mailing and business address. Address may not contain a P.O. Box.

Applicant must not hold an active resident license in any other jurisdiction outside of Virgin Islands.

Applicant must not hold and active non-resident Virgin Islands license. Applicant will need to contact the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation for more information on hold to change the non-resident license to a resident license.

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.

Business entity applicants must provide a copy of the Articles of Incorporation and Organization By-laws emailed directly to the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation.

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.

Applicants must late renew through NIPR's Resident License Renewal Application if license is inactive and within one (1) year of license expiration date. Exclusions: Apprentice Agent/Solicitor applicants.

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.

Public Adjuster applicants must provide proof of a bond in favor of the Government of the Virgin Islands for $5,000 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.

Solicitor applicants are required to have an affiliation appointment from the Insurance Producer all companies that they will be representing. If an affiliation appointment is not submitted directly to the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation after the license displays on the Producer Database PDB, the license will be inactivated by the U.S. Virgin Islands. For the Appointment of Solicitor document visit: http://ltg.gov.vi/downloads/forms/b&i/licensees/solicitors.pdf
Variable Life and Variable Annuity applicants must hold active Life line of Authority or be applying for Life line of Authority at the same time.

Variable Life and Variable Annuity line of authority applicants must supply their FINRA Central Registry Depository (CRD) number on the application.  If you need to verify your CRD number you may use the Broker Search feature found on FINRA’s website.

Variable Life and Variable Annuity line of authority applicants must provide proof of Series 6 – 7 Certification to the U.S. Virgin Islands Division of Banking, Insurance and Financial Regulation.

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

License Class

Line of Authority (LOA)

DRLP Required

Insurance Producer

Life

Yes

Insurance Producer

Accident & Health or Sickness

Yes

Insurance Producer

Property

Yes

Insurance Producer

Casualty

Yes

Insurance Producer

Personal Lines

Yes

Insurance Producer

Variable Life and Variable Annuity

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

Medical Air Representative

None

Yes

Solicitor

Life

Yes

Solicitor

Accident & Health or Sickness

Yes

Solicitor

Property

Yes

Solicitor

Casualty

Yes

Solicitor

Personal Lines

Yes

Solicitor

Variable Life and Variable Annuity

Yes

Solicitor

Surety

Yes

Solicitor

Title

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.

No additional fees are charged to reinstate a license – only initial fee.

License Class

License Fee *

Reinstatement Fee*

Independent Adjuster

$500.00

$500.00

Insurance Producer

$400.00

$400.00

Managing General Agent

$850.00

$850.00

Medical Air Representative

$150.00

$150.00

Public Adjuster

$500.00

$500.00

Solicitor

$400.00

$400.00

Surplus Lines Broker

$500.00

$500.00

Amendment – Adding Line of Authority

$50.00

N/A

* Per transaction submitted

Contacts

Last Update: 9/14/2018

APPLY HERE