Licensing
The following documentation should be completed and submitted as a complete package to the attention of Ryan Basnett, Chief Financial Analyst.
- Biographical Affidavit
- Consent to Service of Process
- Licensing fee of $100
- The check should be made payable to the South Carolina Department of Insurance.
- Manager-Bond, Form 1144
- Reinsurance Intermediary Application
General Instructions
- License Type
- The applicant must choose at least one category from each item. The applicant may request to be licensed as a reinsurance intermediary broker and manager within one application. For all other items of Part A, only one category should be chosen.
- An applicant requesting to be licensed as a reinsurance intermediary broker in Item 1 must complete parts B, C, E, and H of the application.
- An applicant requesting to be licensed as a Reinsurance Intermediary Manager in Item 1 must complete parts B, D, E, and H of the application.
- A nonresident applicant must also complete part F of the application.
- Providing Information
- "Controlling person" is defined in South Carolina Code Announcement Section 38-46-20(2).
- Manager
- A copy of each approved contract, as per Part D, Item 8, must be certified by an officer of the applicant as being a true and complete copy approved by the reinsurer’s board of directors.
- Nonresident Applicant
- If licensed, the applicant shall thereafter notify the director of insurance in writing of any change in the designated agent for service of process within five business days after the change.
- Exhibit
- Exhibits filed with the application should be assigned an identifying number that reflects to which part of the application it relates. For example, an organizational chart filed, as per Part B, Item 7 of the application, should be numbered "Exhibit B.7."