Surplus Lines Broker
Title 38, Chapter 45 of the South Carolina Code of Laws details the regulations and requirements for brokers and surplus lines insurance. Surplus Lines Broker licenses are renewed in May of even-numbered years. The fee is $200.
Resident Surplus Lines Brokers
- Applicants must first pass the state examination prior to applying for a license
through PSI. Exam certificates expire 12 months after issuance.
- Apply online through NIPR.
- Pay the biennial license fee of $200. The fee is not pro-rated and is non-refundable and non-transferable.
- Complete the $10,000 Surety Bond, Form 3535. You may email the Department to submit this form.
Only individuals may be licensed as brokers in South Carolina.
Non-Resident Surplus Lines Brokers
- Apply online through NIPR
- Pay the biennial license fee of $200. The fee is not pro-rated and is non-refundable and non-transferable. Fees are retaliatory under South Carolina law.
- You must be licensed in your resident state as a surplus lines broker OR have the excess or surplus line of authority in order for our office to reciprocate a non-resident license.
Failure to Renew Brokers License
Surplus lines broker licenses are renewed during the month of May of each even numbered year. If you do not meet all renewal requirements by May 31 of the even numbered year, your brokers license will be cancelled and you will be prohibited from transacting any insurance business. A broker may reinstate a license cancelled due to non-renewal by completing the license renewal process and paying all applicable fees. SC state law requires payment of a $200 license reinstatement fee in addition to the $200 license renewal fee in order to reinstate a broker license that has been cancelled for non-renewal.
Premium Tax Forms & Instructions
The South Carolina Code requires brokers licensed in South Carolina to report their business records for statistical, tax collection, and distribution purposes. Please visit the Taxation page for required forms.
Questions regarding premium and tax returns should be addressed to Sharon Waddell (803-737-4910) or Angela Davis (803-737-6279) in the Department's Taxation Office.