Annual Renewal of Producer Appointments

[LOGO] # MISSISSIPPI INSURANCE DEPARTMENT 501 N. WEST STREET, SUITE 1001 WOOLFOLK BUILDING JACKSON, MISSISSIPPI 39201 www.mid.state.ms.us MAILING ADDRESS Post Office Box 79 Jackson, Mississippi 39205-0079 TELEPHONE: (601) 359-3569 FAX: (601) 359-2474 WATS: 1-800-562-2957 (Incoming - USA) November 1, 2009 Bulletin 2009-8 To: All Licensed Insurance Companies RE: Annual Renewal of Producer Appointments In accordance with Miss. Code Ann. § 83-17-75 (5) (Supp. 2009), the purpose of this Bulletin is to prescribe the manner and time in which producer renewal appointments must be submitted to the Mississippi Insurance Department (“Department”). As a result of HB 777 (2009 Regular Legislative Session), the Mississippi Insurance Department will no longer maintain separate renewal periods for Producer appointments. All active appointments will remain in effect until the renewal due date set forth below, at which time a renewal fee must be paid for the appointment to continue. Effective immediately, the annual renewal dates for all appointment types are set out herein below: Miss. Code Ann. § 83-19-1 (Supp. 2009): Classifications of Insurance Companies | Insurance Company Type | Annual Renewal Due Date | | --- | --- | | Class 1: Fire and Casualty | May 31^{st} | | Class 2: Life | May 31^{st} | | Class 3: Fraternal | May 31^{st} | | Class 4: Burial | May 31^{st} | The term “Insurance Company” or “Insurance Companies”, as used in this Bulletin, includes all admitted insurance companies, orders, associations and such other entities required by statute to issue appointments to its agents. The term “Producer”, as used in this Bulletin, includes all persons required to be appointed by and Insurance Company, whether or not such person is required to be licensed by this Department. All Insurance Companies will receive invoices for the renewal appointments of all Producers who are appointed with the Insurance Company as of April 1$^{st}$. The invoices will be issued on or about April 1 of each year, along with a list of all Producers whose appointment is set to be renewed. The invoice may not be altered and payment in full must be received by the annual renewal due date set forth above. If an Insurance Company intends to non-renew a Producer’s appointment, the Insurance Company must notify the Department of such request no later than March 15$^{th}$. The Insurance Company shall notify the Department by way of a cumulative cancellation list of all appointed producers for whom the Insurance Company has chosen to non-renew/cancel. Insurance Companies must notify the Department electronically terminating the appointment or by using the paper cancellation form prescribed by the Commissioner. MIKE CHANEY Commissioner of Insurance State Fire Marshal Insurance Companies are encouraged to electronically cancel their appointments online at www.sircon.com or www.nipr.com . Insurance Companies are responsible for additional expenses which they may incur by the use of such resources. The Department **will not** mail a “pre-list” containing the names of all Producers with an active appointment. Insurance Companies may acquire a list of all Producers who have an active appointment with their Company online at http://www.mid.state.ms.us/licapp/download_list.aspx . This Bulletin shall supersede in part any Bulletin to the contrary. Respectfully, Mike Chaney Commissioner of Insurance State of Mississippi