State Licensing Requirements

Licensure in Arkansas

If you would like to transact insurance business as an insurance agent in Arkansas, you must apply for a license, pass the appropriate examination (resident applicant), and be appointed by an insurance company.

Resident License Application Procedure

1. Review this handbook and the latest Examination Content Outline Supplement.
2. You may wish to go to the library to review a standard statute reference for Arkansas. Statutes are also available by contacting the office of the Secretary of State for Arkansas.
3. Submit the appropriate Arkansaslicense application with any required supporting documentation and your application fee to the ASI Processing Center. You must apply in advance of actually taking the exam. The application fee is reflected on the chart on page 2 and must be in the form of a money order, certified check, insurance company check, or company check. No personal checks, credit cards, or cash will be accepted. Application fees are non-refundable and non-transferable.
4. Provide a clearance letter if you hold a license from another state and are moving to Arkansas
5. Register for the appropriate examination
6. Present the required documentation at the ASI Assessment Center and pass the exam

Surplus Lines Broker Examination/Licensure Requirements

Applicants must:

• be currently licensed as Multiline (Property, Casualty, Surety, and Marine) in Arkansas or another state for at least seven (7) years;
• file the required surety bond in the amount of $50,000;
• be deemed by the Commissioner to be competent and trustworthy;
• complete and submit the proper application form (I-55SL) and license fee to the Commissioner or the Commissioner's designee; and
• pass the Arkansas Surplus Lines examination.

Surplus Lines License/Application Fees

Applicants affiliated with a licensed Arkansas broker firm or corporation (includes $1000 SL License Fee). $ 1097

Applicants NOT affiliated with a licensed Arkansas broker firm or corporation (includes $100 SL License Fee) $ 197

Retake Examination Fee (all Surplus Lines Exams) $ 72

The surplus lines application form requires documentation of the applicant's affiliation with a licensed Arkansas broker firm or corporation. This application may be obtained by calling ASI at (888) 204-6259.

Non-Resident License Application Procedure

For information on obtaining a non-resident license, please access the Arkansas Insurance Department's web page at www.state.ar.us/insurance dept/ or call the Department at (501) 371-2750.

Review of Applications and Issuance of Examination Permits

Applications received by ASI's Processing Center will be reviewed for completeness and eligibility. Incomplete applications will be returned to the applicant with a request for completion. Application fees will not be refunded.

Applications deemed ineligible at the ASI Processing Center will be referred to the Arkansas Insurance Department. The Department will review and approve applications and reply to ASI. Applicants whose applications are approved by the Department will receive an examination permit from ASI. Applicants whose applications are not approved will receive notification directly from the Arkansas Insurance Department. Application fees will not be refunded to applicants not permitted to test following the review process.

ASI and the Arkansas Insurance Department will make every attempt to process all applications promptly. However, peak periods of application activity and the review of incomplete and/or ineligible applications may cause delays. In most cases, all applicants should receive written instructions from ASI within five (5) business days. If you do not receive information from ASI within 7-10 business days you may call ASI at (888) 204-6259 with questions.

Appointment Requirements

The state of Arkansasissues a permanent agent license. You are required to carry this license and maintain accurate records of the insurance companies who have appointed you. Your insurance license is only valid if you are appointed by each company you represent.

Once you receive your permanent agent license, you should communicate with each company you wish to represent to advise them of your qualifications and standing and ask them to appoint you. Arkansasinsurance companies are required to submit the ArkansasRequest for Appointment form for each agent it certifies.

Please refer to the chart below for appointment fees and terms. Appointments for Life and/or Disability expire on June 30^th of even years. Appointments for Multi-Line expire on June 30^th of odd years. If your new appointment is processed in the first year of the appointment term for a line of authority, the fee is $40. (For example, if your appointment is processed 8/1/98 for Life and/or Disability, the fee is $40.) If the appointment is processed in the second year of the appointment term the fee is $20. (For example if your appointment is processed 10/1/98 for Multi-Line, the fee is $20.)

Line of Authority	Appointment (Examples)	New Appointment Process Date	Appointment Fee
Life and/or Disability	7/1/98 to 6/30/2000 (Even years)	8/1/98 10/1/99	$40.00 $20.00
Multi-Line	7/1/97 to 9/30/99 (Odd years)	8/1/98 10/1/99	$20.00 $40.00

Amended/Changed Authority

Insurance companies are required to forward a new Arkansas Request for Appointment form for any agent whose authority is being amended or changed. Fees for amending or changing authority are the same as for certification.

Terminations

If an insurance company needs to terminate an agent or agency, the NAIC ArkansasRequest for Company Cancellation form (I-71) is required. The form is submitted at time of termination, and a $10 fee is required for each termination.

Continuing Education Requirements

A separate Continuing Education Guide detailing all of the Arkansas CE requirements will be available from ASI in Fall 1999.

Administrative Support Services

The Arkansas Insurance Department will provide home state certification, clearance letters, or a printout of an agent's record. All administrative services requests must be forwarded to the Insurance Department with your name and Social Security Number. Fees vary. Please contact the Insurance Department for a current listing of these fees.

Change of Name or Address

You must report any change in address or name to the Insurance Department within ten (10) days of the change.

Change of Agencies

The Insurance Department should be notified immediately if you change agencies.

Retake Requirements

• Candidates must retake the examination within ninety (90) days of the original Examination Permit (from ASI).
• Candidates may take the examination(s) a maximum of three (3) times within the ninety (90)-day period.
• Candidates who fail the examination(s) on the second attempt must wait sixty (60) days before a reservation may be made to retake the examination for the third time.
• Candidates who do not pass the examination within ninety (90) days MUST send a new application and new application fees to ASI.