FEE CHANGES FOR CONNECTICUT PRODUCER LICENSES EFFECTIVE 10/1/2009
On September 8, 2009, Connecticut Public Act 09-3, An Act Concerning Expenditures and Revenue for the Biennium Ending June 30, 2011 (“Budget Act”) became law. Pursuant to this Budget Act, Insurance Department fees provided for in Conn. Gen. Stat. §38a-11, which includes producer license and renewal fees increased.
Effective October 1, 2009, the new producer license fees are:
| |
New Fee |
| Initial Individual Producer License |
$140 |
| Initial Business Entity Producer License, or Individual or Business Entity Producer Reinstatement or Amendment |
$130 |
| Producer Renewal License |
$160 |
| Producer Late-Renewal License, if Licensee’s birthday/expiration is October 1, 2009 or later. |
$320 |
| Producer Late-Renewal License, if Licensee’s birthday/expiration was prior to October 1, 2009. |
$160 |
(A comprehensive listing of licensing fee changes may be found on our website: www.ct.gov/cid. From the homepage, click on “What’s New in the Licensing Unit”.)
Producers who are set to renew their licenses in October or November, 2009, will be receiving amended invoices for this renewal.
The Insurance Department previously issued invoices for October and November producer license renewals reflecting the fee schedule that was in place when those invoices were issued. However, the passage of the Budget Act requires that we adjust those invoices to collect the new fees required as of October 1, 2009. Therefore, producers whose licenses are set to renew in October and November will be receiving amended invoices for their license renewals reflecting the additional fee to be collected to comply with the Budget Act. Failure to pay the additional fee will result in the cancellation of the producer’s renewal license in accordance with 38a-702f.
The following information has been sent to the affected producers, along with their amended invoices, so that they may determine how to proceed in order to complete the renewal process at this time. Producers can use the chart on the next page to identify the situation which describes their renewal status and should follow the directions provided.
| If you have already submitted your $80 renewal fee: |
Use the attached invoice to submit the additional $80 payment within 45 days of this letter. Failure to pay the additional fee will result in cancellation of your license. (Payment must be sent by mail, with a check or money order. Online payments cannot be processed.) |
| If you have not yet submitted your renewal fee: |
Discard the prior invoice and use the enclosed invoice to submit the new $160.00 license fee. |
| If you already submitted your renewal fee and choose not to pay the additional fee, you may request a license cancellation and refund of your previously paid fee: |
Submit a written refund request to: State of Connecticut Insurance Dept, Attn: Licensing, PO Box 816, Hartford, CT 06142. You must return your 2009-2011 producer renewal license, if one has been issued to you, with the refund request. |
In order to allow sufficient time for the processing of all additional renewal fees due as a result of the New Budget Act, the Insurance Department will not be cancelling producer licenses for non-renewal until December 1, 2009.
In the spirit of cooperation, we ask that the insurance companies reciprocate similarly, by allowing sufficient time for their producers to complete the “amended” renewal process, without terminating their appointments, nor withholding commissions, for those individuals affected by this change.
We apologize for any inconvenience the new Budget Act has caused and appreciate your cooperation.
