Indiana-based Supportive Insurance Services – which has been fulfilling and managing the licensing requirements for the insurance industry since 2001 – has launched a brand-new service, Insurance Licensing Check-Up, offering clients an annual licensing check-up. This audit and analysis is designed to ensure licenses are correctly issued, up-to-date, meet state requirements and uncover any potential licensing gaps.
“There is a great deal of detail and paperwork involved in licensing for agents, adjusters, agencies and claims adjusting firms,” said Jeff Brinkman, vice president, “with the potential for oversight and inaccuracies that can cost a firm or individual significant dollars in fines and missed opportunities if not properly executed. With Supportive Insurance Services’ Licensing Check-Up, we offer audits of an organization’s licenses (individual agent and agency licenses, and claims adjuster and adjusting firm’s licenses), to determine if all licensing is current and in compliance with state requirements. We also pinpoint any anomalies that need to be resolved.”
Insurance Licensing Check-Up was created after Supportive Insurance Services found many agencies and adjusting companies just didn’t have the time or staff to keep up with their licensing requirements. Some were unsure if their licenses were properly filed. “We found, for example, that individuals in the agency were licensed but not the agency itself,” explained Brinkman. “This is particularly troublesome when uncovered during discovery for a lawsuit. In other instances, we found that certificates of authority were not in place and annual reports were not filed.”
In addition, obtaining non-resident licenses for agencies and corporations is even more complicated than individual licensing due to varied state requirements. Some states require organizations be registered with the Secretary of State’s office in their respective states prior to applying for an agency license. It ends up being a complicated, tedious process with follow-up required. The new service will assess whether the state protocols were indeed accurately undertaken.
Once a review is completed, a client will receive a report confirming the status of licenses, along with any additional business licensing requirements, and a list of the licenses that may no longer be needed.
The fee for the Insurance Licensing Check-Up is based on the number of licenses and starts at $250. Please contact Jeff Brinkman at 317-257-5734, or visit http://www.supportiveis.com/insurance-licensing/insurance-licensing-check/ for more information.
Source: Supportive Insurance Services
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