|Date:||December 10, 2013|
|To:||Agent Licensing Department|
|From:||Theodore K. Nickel, Commissioner of Insurance|
|Subject:||Resident and Nonresident Annual Appointment Billing|
Invoices for filing the required annual initial and renewal appointment fee will be mailed shortly after January 1, 2014. All payments must be submitted by Electronic Funds Transfer (EFT) on our Web site at oci.wi.gov. No other form of payment is acceptable and will be returned unprocessed.
When logging on to the site to complete the payment process, companies will be able to download the list of agents associated with each invoice. The list will include those agents who were initially appointed for the previous year as well as those whose appointments are being renewed.
Each invoice will have the amount calculated and no reconciliation is permitted. Companies may not take credit for terminating an agent at that time. All terminations must have been processed by December 31, 2013, or they will appear on the renewal billing schedule. Please note that Vertafore (also known as Sircon) transactions are completed in real time. Companies using other business partners must allow for the transfer of data which can cause a delay in processing those transactions. Companies can obtain a list of its active agents online at oci.wi.gov/agentlic/agntlist.shtml.
The annual fee for appointing or renewing an appointment of an agent to be paid before July 1, 2014, is $16 for resident agents or $50 for nonresident agents regardless of the number of lines of authority. The fee for appointing or renewing an appointment of an agent to be paid on or after July 1, 2014, is $16 for resident agents or $40 for nonresident agents.
If you have any questions, please refer to the frequently asked questions posted in OCI's Web site at oci.wi.gov/agentlic/faq_annual_billing.htm. If you need to update the company information, contact the Agent Licensing Section by e-mail at email@example.com.