Nonresident Surplus Lines Broker/Broker Firms

 

Statutory Authority:

  • Wyoming Statutes §§ 26-9-201, et seq.

  • Wyoming Statutes §§ 26-11-101, et seq.

License Required:

  • Individuals and Firms that deal directly with surplus lines insurers procuring coverage for an insured whose home state is Wyoming must obtain a Wyoming surplus lines broker license. 

  • If an individual producer deals directly with an insured as a retail agent and the required coverage cannot be procured from among the authorized insurers that are writing the required kind and class of insurance, then the producer may contact a licensed surplus lines broker to procure coverage from an eligible surplus lines insurer.   In this circumstance, it would not be necessary for the retail agent to also hold a Wyoming surplus lines broker license. 

  • Pursuant to Wyo. Stat. §26-11-115, the Surplus Lines Broker may accept and place business from licensed agents/producers. 

  • The licensed Surplus Lines Broker is responsible for reporting the transaction and remitting Surplus Lines taxes to the Wyoming Insurance Department. 

License Class/Type:

  • Surplus Lines Broker or Broker Firm

Line of Authority:

  • Surplus Lines

Qualification for License:

  • Applicant must have active SL license in resident state.

  • A property and casualty license is needed only if the licensee will be accessing admitted market in Wyoming.

  • No bond required for nonresidents.

  • All individuals conducting surplus license business on behalf of a firm must hold an individual surplus lines license.  This is not a prerequisite to firm licensing. 

  • Firm must designate a responsible producer.  The responsible producer must hold a Wyoming surplus lines license.

Fees:  

  • Licensing fee: $100.00

  • Renewal fee: $150.00

  • Fees are the same for individuals and business entities.

Forms:

  • NAIC Uniform Application for Individual Producer

  • NAIC Uniform Application for Business Entity

  • NAIC Uniform Renewal Application

  • Paper forms are available through NIPR.

Submitting an Application:

  • Electronic applications are preferred for efficiency and faster licensing.

  • Submit an electronic application through Sircon or NIPR.

  • Paper applications may be mailed to: Wyoming Insurance Department at 106 E. 6th Avenue, Cheyenne, WY  82002.

  • Checks must be made payable to the Wyoming State Treasurer.

  • Licensing fees are nonrefundable.

Renewal:

  • Renew by paper or electronically through Sircon or NIPR. 

  • Individuals renew on the second anniversary of the last day of the licensee’s birth month.

  • Firm licenses renew March 31 every two years.