Surplus Lines

Resident Surplus Lines Broker/Broker Firm

Statutory Authority:

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.

Qualification for License:

Applicant must have active producer license with property and casualty lines of authority.
Applicant must pass surplus lines exam within twelve months of application.
Applicant must be competent and trustworthy with respect to the handling of surplus lines.
Applicant must maintain an office at a designated location known to and accessible by the commissioner.
If an individual is conducting surplus lines business on behalf of a firm, the firm must also become licensed. This is not a prerequisite to individual licensing.
NAIC Uniform Application accepted for surplus lines licensing.
Resident individuals and resident firms must each have a $10,000 surplus lines bond (see details below).
Firm must designate a responsible producer. The responsible producer must hold a Wyoming surplus lines license.

License Class/Type:

Line of Authority:

License Term:

Fees:

Exam:

Individuals must pass the surplus lines exam within 12 months prior to applying for a license.
Contact PearsonVUE to schedule an exam.

Forms:

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.

Bond:

Bond must be filed prior to issuance of license and shall remain in force for as long as the license remains in effect.
Bond must be issued by an authorized insurer.
Bond requirement applies to both individuals and firms.

Renewal:

Renewal applications may be submitted by paper or electronically (preferred) through Sircon or NIPR.
The Department must receive evidence of bond continuation prior to the license expiration date.
Individual license renews on the second anniversary of the last day of the licensee’s birth month.
Firm Licenses renew every 2 years on the last day of the effective month.

Nonresident Surplus Lines Broker/Broker Firms