BUSINESS ENTITY & AGENCY LICENSING REQUIREMENTS, FEES, & FAQS

If you are transacting business under your agency name (i.e. the policies you write show the agency name) OR if your commissions are paid to your agency instead of you personally, you and your agency will both need to be licensed.

Before applying you must:

• Have a producer/surplus lines broker that is licensed as a producer in Wyoming to act as the firm's Designated Responsible Licensed Producer (DRLP). The firm will be able to transact business for any lines of authority they wish, regardless of the lines of authority held by the DRLP.

• Check to see if registration for your business will be required with the Wyoming Secretary of State ↗

You may apply for your license online through Sircon ↗

In short, your primary agency location must physically be located in Wyoming, have normal business hours, be accessible to the public, and keep a complete record of transactions performed under the firm license. The location must also employ at least one full-time licensed staff member at the agency location who may sell, solicit, or negotiate insurance on behalf of the agency.

Per W.S. § 26-9-228 ↗, a resident agency must have and maintain in Wyoming a place of business accessible to the public and in which the licensee principally conducts transactions under their license. 

Per United States Supreme Court ruling 08-1107 ↗, the principal place of business refers to the place where the business's high level officers direct, control, and coordinate the business's activities, i.e. it's "nerve center". Therefore a virtual office location or registered agent's office location is not acceptable when applying for a resident firm license.

For each of the following categories,
Wyoming Resident Firms: $100, Non-Resident Firms: $150:

Any combination of the lines of authority listed below

• Property

• Casualty

Any combination of the lines of authority listed below

• Life

• Accident and Health or Sickness

• Variable Life & Variable Annuities

Surplus Lines

Limited Lines Credit

Limited Lines Crop firm license fees are $100, regardless of residency

DRLP stands for Designated Responsible Licensed Producer. This individual (or these individuals) will be held legally responsible for all actions of the firm in the State of Wyoming.

The firm's DRLP is not required to be licensed in the same lines as the firm.

The DRLP(s) must keep their licenses active for their firm to continue to offer coverage to the citizens of Wyoming.

Wyoming allows no more than 5 Designated Responsible Licensed Producers per firm.

Firms do not need to associate their agents with the firm. The only associations we allow are Designated Responsible Licensed Producers and Designated Responsible Surplus Lines Brokers.

Most firm applications are auto approved. The process will take longer if the firm is required to disclose administrative actions taken against it in other state.

If a firm application is not approved within 7 calendar days please email insurancelicensing@wyo.gov to inquire about its status.

Please note that failure to list a DRLP will cause a delay in approving an application.

Firm licenses renew every two years on the last day of the month in which the license was granted. 

For example, if the license was granted on December 6, 2021, the firm's license renewal date will be December 31 every odd numbered year.

Renewal invoices will be sent to the business email address on file 90 days prior to the renewal.

REINSTATEMENT

In the event that a firm license is not renewed in time, it will enter the reinstatement period. The reinstatement period will last for one calendar year from the date of license expiration.

The process for reinstatement is identical to the renewal process except for the fees. Firms with licenses in the reinstatement period will have their renewal fees doubled.

Before renewing, be sure that your DRLP holds an active license in Wyoming. If not they will need to renew or reinstate their license prior to the renewal application. You may also designate a new DRLP that is currently licensed in Wyoming on the renewal application.

Address changes are not accepted via the renewal application!

Renewals may be submitted through Sircon ↗

If you have missed your renewal date your license will be in a reinstatement period for one year. During that time you may reinstate your license by paying a late fee. The amount of the late fee is 100% of the amount of the renewal fee. For example, if you have a $150 renewal fee, there will be an additional $150 for the late fee, for a total of $300. 

Reinstated licenses will have the same expiration date as if they were renewed on time. 

Before a firm may reinstate they will need to reach out to the Licensing Section at insurancelicensing@wyo.gov to inform them of their current DRLP. DRLPs are inactivated when the license expires.

After the reinstatement period of one calendar year is over you must reapply for the license as if you were applying for the first time.