What Is DOI (State Department of Insurance)?

Why it matters

For families, the DOI is where to check an agent's license and file a complaint. For agents, it sets licensing rules, exams, and fines. Each state's rules differ, and the NAIC coordinates among them. When in doubt about a rule, the DOI site is the primary source. Most offer a free license lookup for the public.

Source: nipr.com

Where we use this term

Related terms

Producer License: A producer license is a state-issued credential that lets a person sell, solicit, or negotiate insurance. States issue it by line of authority, such as life, and the holder must follow that state's insurance laws.
Resident License: A resident license is the producer license issued by the state where an agent lives or keeps a principal place of business. It is usually the agent's home state license and the base for all other state licenses.
Nonresident License: A nonresident license lets an agent who is licensed in a home state sell insurance to people in another state. The agent applies to each additional state and pays that state's fee.
License Lapse: A license lapse happens when a producer license expires because the agent did not renew it on time. A lapsed agent cannot legally sell or be paid on new sales in that state.
Background Check: A background check is a review of a person's criminal and sometimes financial history. States and carriers use it to decide whether to license or contract an agent.

All 241 terms

State Department of Insurance (DOI)

Why it matters

Where we use this term

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