Pennsylvania Finance Licensing
Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Pennsylvania.
- Jump To:
- Pennsylvania Financial Services Company Licenses
- Pennsylvania Individual Financial Services Licenses
Company Licenses
Pennsylvania Financial Services Company Licenses
An insurance administrator is any person who collects charges or premiums from or who adjusts or settles claims for residents of this commonwealth in connection with life or health insurance coverage or annuities. Insurance Administrator licenses are renewable every two years.
Pennsylvania Insurance Administrator License
| Agency: | Pennsylvania Insurance Department |
| Law: | 40 P.S. §§ 324.1 – 324.13 (Insurance Administrator Licensure) |
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Initial Registration
| Form: | |
| Filing Method: | |
| Penalties: | $100 |
| Required Attachments: | A completed application form : a. Corporation or Partnership Application – IDL-56 IA, or b. Individual Application – IDL-57 IA A copy of the declaration page or Certificate of Insurance for an errors and omissions policy. A copy of the declaration page or Certificate of Insurance for a fidelity bond |
Registration Renewal
| Form: | |
| Filing Method: | |
| Agency Fee: | $100 |
Pennsylvania Claims Service Company Registration
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Renewal Not Required
Not required
Pennsylvania Collection Agency License
Not required
Debt Collection Agency licensure is not required on the State level in Pennsylvania.
Pennsylvania does not currently issue licenses for collection agencies.
Pennsylvania Insurance Agency License
| Agency: | Pennsylvania Insurance Department |
Initial Registration
This section applies to insurance firms that are applying for a license in Pennsylvania for the first time.
| Agency: | Pennsylvania Insurance Department |
| Form: | http://www.insurance.pa.gov/Licensees/HowToApply/Pages/default.aspx#.Vo1W1hUrKUk |
| Agency Fee: | Varies by insurance type. Baseline of $55 |
Registration Renewal
This section applies to insurance firms that are already licensed in Pennsylvania and need to renew their license.
| Agency: | Pennsylvania Insurance Department |
| Form: | http://www.insurance.pa.gov/Licensees/HowToApply/Pages/default.aspx#.Vo1W1hUrKUk |
| Agency Fee: | Varies by insurance type. Baseline of $55 |
| Due: | Annually or Biennially based on license type |
Pennsylvania Utilization Review Entity Certification
| Type of Review: | Medical Utilization Review |
| Agency: | Pennsylvania Insurance Department - Bureau of Managed Care |
| Law: | 40 PA Stat. § 991.2151 |
Initial Registration
| Form: | |
| Agency Fee: | $1,000 for managed care plan utilization review, $2,000 for utilization review and external grievance appeal reviews. |
| Required Attachments: | See the application form for a detailed list of required attachments. |
Registration Renewal
| Form: | |
| Agency Fee: | $500 for managed care plan utilization review, $1,000 for utilization review and external grievance appeal reviews. |
| Due: | Triennially by the date of initial registration. |
| Notes: | Renewals must be submitted at least 60 days prior to the expiration of the certification period. |
Individual Licenses
Pennsylvania Individual Financial Services Licenses
An insurance administrator is any person who collects charges or premiums from or who adjusts or settles claims for residents of this commonwealth in connection with life or health insurance coverage or annuities. Insurance Administrator licenses are renewable every two years.
Pennsylvania Insurance Agent License
| Agency: | Pennsylvania Insurance Department |
Initial Registration
This section applies to insurance agents that are applying for a license in Pennsylvania for the first time.
| Agency Fee: | From $55 to $200 depending on license type |
Registration Renewal
| Filing Method: | |
| Agency Fee: | Varies based on license type |
| Due: | Biennially |
Explore licensing in other states:
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.
