Montana Insurance License

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Licensing requirements for Montana insurance professionals and companies.

This page provides an overview of insurance licensing in Montana for individuals and companies. You will find state requirements, application fees, filing instructions, and more. For assistance with licensing, please contact us to learn about our software and managed license services.

Companies that provide insurance producer services in Montana must apply for a license prior to doing business. Depending on the lines of authority offered by the entity and the types of services offered, multiple firm licenses may be required.

Before applying, firms should ensure that the licensed individual to be appointed agent in charge has the necessary licenses. Firms should also gather proof of incorporation, or foreign qualification for out-of-state firms, in anticipation of application requirements.

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Company Licenses

Montana Financial Services and Insurance Company Licenses

Montana Collection Agency License

Not required



Montana does not currently issue licenses for collection agencies.

Montana Independent Review Organization Registration

Type of Review:

Medical Utilization Review

Agency:Office of the Montana State Auditor - Commissioner of Securities and Insurance

Initial Registration

Agency:Office of the Montana State Auditor - Commissioner of Securities and Insurance
Form:

Independent Review Organization Application

Agency fee:

$0

Registration Renewal

Agency:Office of the Montana State Auditor - Commissioner of Securities and Insurance
Form:

Independent Review Organization Renewal

Agency fee:

$0

Due:

Biennially by the date of issuance.

Montana Insurance Agency License

Agency:Office of The Montana State Auditor

Initial Registration

This section applies to insurance firms that are applying for a license in Montana for the first time.

Agency:Office of The Montana State Auditor
Form:

http://csimt.gov/insurance/licensing/

Agency fee:

$100 for most

Registration Renewal

This section applies to insurance firms that are already licensed in Montana and need to renew their license.

Not required



Licenses are perpetual and do not need to be renewed.

More information: Office of The Montana State Auditor

Individual Licenses

Montana Individual Financial Services and Insurance Licenses

Montana Insurance Agent License

Agency:Office of The Montana State Auditor

Initial Registration

This section applies to insurance agents that are applying for a license in Montana for the first time.

Agency fee:

From $0 to $100 depending on license type

Adjuster - A person or firm that is paid to adjust, investigate, and negotiate claim settlements. There are 3 categories of adjusters: company, independent, and public. Company adjusters work for insurance companies and investigate claims on behalf of the company. Independent adjusters investigate claims on a contractual basis for insurance companies. Public adjusters investigate claims on behalf of claimants, usually to determine the amount of money that can be claimed.

Agent in Charge - A licensed individual responsible for the supervision of all individuals within an insurance agency. The agent in charge must be licensed in the same lines as the agency.

Insurance Agent - Insurance agents act as intermediaries between the insurance company and policyholders. Agents can be either captive or independent. Captive agents represent a single insurance company, while independent agents represent multiple insurers.

Insurance Broker - Individuals who sell insurance policies while representing the interests of the buyer. Brokers are typically independent intermediaries without an insurance company affiliation.

Insurance Producer - May be used to refer to either individual insurance agents and brokers or insurance agencies and brokerages.

Managing General Agent - An agent or broker that is involved in underwriting and has other areas of authority normally handled by insurers. MGAs are typically involved in unusual lines of coverage or in geographically prohibitive areas.

Surplus Lines Insurer - An insurance carrier that takes on risks that a licensed carrier is unwilling to insure. Surplus lines insurers do not have access to state guaranty funds and are less tightly regulated by state governing bodies.

Third Party Administrator - An organization that manages group insurance policies and works with the employer and insurance carrier to process claims, handle loss control, and provide risk management and consulting services.

Title Agent - Title agents sell insurance that protects real estate owners against loss of ownership of a property due to a legal claim.

Viatical Settlement Provider - A company that purchases life insurance policies at a discount from individuals seeking immediately available funds.

Independent Insurance Agents and Brokers of America (Big “I”)
Advocacy group of independent insurance brokers and agents.

National Association of Insurance and Financial Advisors (NAIFA)
Professional association that advocates for favorable regulatory conditions for insurance agents and financial advisors.

National Association of Insurance Companies (NAIC)
A standard setting and regulatory support organization that is governed by state insurance regulators.

National Association of Professional Insurance Agents (PIA)
Professional association that provides education and advocacy for insurance agents throughout the United States.

National Insurance Producer Registry (NIPR)
An affiliate of the NAIC that provides streamlined and uniform producer licensing processes.

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