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Pennsylvania Slashes Insurance coverage Licensing Charges, Speeds Up Software Opinions

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The Pennsylvania Insurance coverage Division (PID) introduced the elimination of sure charges related to insurance coverage licensing kinds and sooner evaluation occasions for pending purposes.

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“Accelerating our evaluation time for pending license purposes and eradicating pointless charges will assist PID higher serve Pennsylvanians who’re making an attempt to make minor modifications to their data,” stated Pennsylvania Insurance coverage Commissioner Michael Humphreys.

As of January 1, anybody looking for licenses can now submit their kinds electronically to the division. PID has additionally eliminated the $25 price requirement for any of the next modifications:

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  • Add or Take away Designated Licensee or Surplus Strains Affiliation
  • Add or Take away Self Storage Service Location
  • Add or Take away Fictitious or DBA Identify
  • Deal with Change Type for Enterprise Entity
  • Identify Change kind for Enterprise Entity
  • Identify and Deal with Change for Particular person
  • Letter of Clearance or Voluntary Give up Request

Moreover, PID has modernized procedures to licensure processes that it claims have helped to cut back PID’s response time from a mean of 20 days to lower than eight days. These procedures embody: receiving background checks electronically; updating our preliminary licensing dedication course of; clarifying info to candidates on info materials and purposes for higher understanding; and growing the general staffing to handle the amount of latest licensees.

The up to date kinds can be found on PID’s web site on the Maintain Your License web page.

PID stated it has additionally made licensing exams obtainable in Spanish and Chinese language. “The provision of those exams won’t solely improve entry to testing however breakdown boundaries that doubtlessly stop some Pennsylvanians from looking for profession alternatives on this planet of insurance coverage,” the division said..

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