Indiana state insurance laws contain a reciprocal fee provision. The provision requires the Indiana Insurance Department to charge the same fee to a nonresident producer to receive or renew an Indiana license that an Indiana resident producer would pay in the nonresident state.
Illinois increased its fees for nonresident producers. Therefore, Indiana has increased its nonresident producer fees for Illinois resident producers who receive or renew a license in Indiana.
Effective September 9, the Illinois resident producer fee is $250 to receive or renew a nonresident producer Indiana license. Other fees have also been increased based on the new Illinois fee schedule.
Indiana will be reviewing other state licensing fees to determine if there are any other fee increases.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
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