Failure to renew the license will result in the expiration of the license on the day following the licensee’s compliance deadline. Producers have 6 months (180 days) to reinstate a license by paying the renewal fee and a penalty fee through NIPR. The amount of the penalty fee is based on the date the license is renewed plus the $25 renewal fee (see below).
1-30 days late, the renewal penalty is $50
31-60 days late, the renewal penalty is $100
61-180 days late, the renewal penalty is $250
If your license expires, you cannot conduct any business of insurance.
If the renewal is not completed within 6 months (180 days) of the expiration date, the license and all appointments will be canceled the following day (181st day). To regain licensure, the producer will be required to retake and pass the state licensing exam, obtain new fingerprints, complete a new application, and pay a new license fee to become licensed.