Illinois Department of Insurance Director Andrew Boron Announces Implementation of Mandatory Electronic Application Process for Producer/Business Entity Licenses
Mar 19, 2012
Illinois Department of Insurance (“Department”) Director Andrew Boron announced on March 15, 2012 that all new and renewal producer/business entity applications submitted to the Department will be processed electronically starting August 1, 2012. Mail applications postmarked after August 1, 2012 will not be accepted.
The Department has offered the online application service to insurance producers and business entities for several years and this method has proven to be expeditious, effecient and time saving. The electronic processing is expected to eliminate the issues associated with last minute application submissions inasmuch as licenses can be applied for online at any time.
Insurance producers renewing their licenses are required to complete their Continuing Education requirement no later than one month prior to the license expiration date, in order to allow time for their proof of completion to be submitted to the Director (as per 50 Ill. Adm. code 3119.45 (b)(1)).
Late submission will result in the payment of the penalty fee.
Should you have any questions or comments, please contact Colodny Fass.