AZ Regulatory Bulletin 2011-03: License Renewal; Avoiding the Late Renewal Fee

Department of Insurance State of Arizona Office of the Director Telephone: (602) 364-3471 Telecopier: (602) 364-3470 JANICE K. BREWER 2910 North 44th Street, Suite 210 CHRISTINA URIAS Governor Phoenix, Arizona 85018 Director of Insurance www.azinsurance.gov REGULATORY BULLETIN 2011-03 1 TO: All Arizona Licensed Producers FROM: Christina Urias Director DATE: May 20, 2011 RE: License Renewal; Avoiding the Late Renewal Fee The purpose of this bulletin is to remind Arizona-licensed insurance professionals that they can renew their licenses up to 90 days prior to expiration and that licenses must be renewed by or before midnight of the license expiration date. There is no extension or grace period for a license that expires on a Saturday, Sunday or holiday. If we receive a renewal application after the license expiration, it must include the $100 late renewal fee prescribed by Arizona Revised Statutes § 20-289(E). For an individual, a license expires on the last day of the licensee’s birth month in the fourth year of the license. For a business entity, the license expires every four years on the last day of the month in which the license was issued. In order to encourage timely renewals, the Department currently sends reminder notices to licensees 60 to 90 days before the licenses expire. To update address information and renew licenses, individuals may use IPLUS -- the Insurance Professional License Update System, accessible at http://IPLUS.azinsurance.gov. There is no additional fee for using IPLUS, and IPLUS is usually available on weekends, holidays and other times when the Department’s office is closed. If a producer prefers to renew in person or by mail, the producer may print forms and instructions from the PRODUCERS page of the Department’s web site, at www.azinsurance.gov. To avoid problems that may prevent timely license renewal, we encourage insurance professionals to begin the renewal process early -- up to 90 days before the license expiration date. Click on the “Use Renewal Preview” link on the PRODUCERS page of the Department’s web site to identify problems that may prevent the Department from renewing a license. Please direct any questions related to this Regulatory Bulletin to Steven Fromholtz, Licensing Supervisor, at (602) 364-4455 or sfromholtz@azinsurance.gov. 1This Substantive Policy Statement is advisory only. A Substantive Policy Statement does not include internal procedural documents that only affect the internal procedures of the Agency, and does not impose additional requirements or penalties on regulated parties or include confidential information or rules made in accordance with the Arizona Administrative Procedure Act. If you believe that this Substantive Policy Statement does impose additional requirements or penalties on regulated parties you may petition the agency under Arizona Revised Statutes Section 41-1033 for a review of the Statement.