50-State Financial Services Licensing Compliance Guide
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West Virginia Finance Licensing

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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 West Virginia.

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Company Licenses

West Virginia Financial Services Company Licenses

West Virginia Business Entity License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

Annually by June 30.

West Virginia Business Entity License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$25

Due:

Annually by June 30.

West Virginia Collection Agency License

Agency:West Virginia State Tax Department
Bond Requirements:

$5,000 surety bond.

Notes:

West Virginia does not issue collection agency licenses but instead requires agencies to submit a bond along with their business registration. Agencies with multiple locations must register and submit a bond for each office location.

Registered Agent (Special Agency) Required?Yes

Initial Registration

Form:

Form WV/BUS-APP and Form CAB-1: Collection Agency Bond

Agency Fee:

$30

Notes:

Collection agencies should select the collection agency option on the business registration application and submit the surety bond form to register.

Renewal Not Required

Not required



Business and bond registrations do not need to be renewed.

West Virginia Health Insurance Independent Review Organization Certification

Type of Review:

Medical Utilization Review

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Form:

Independent Review Organization Application

Agency Fee:

$0

Registration Renewal

Form:

Independent Review Organization Application (Renewal)

Agency Fee:

$0

Due:

Biennially

West Virginia Insurance Agency License

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

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

Agency:West Virginia Offices of the Insurance Commissioner
Form:

https://www.wvinsurance.gov/Divisions/Agent-Licensing/Agency-Applications

Agency Fee:

$200

Original Ink:Not required
Notarize:Not required

Registration Renewal

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

Agency:West Virginia Offices of the Insurance Commissioner
Form:

https://www.wvinsurance.gov/Divisions/Agent-Licensing/Agency-Applications

Agency Fee:

$200

Due:

Annually

Original Ink:Not required
Notarize:Not required

West Virginia Insurance Producer License - Business Entity

Agency:West Virginia Offices of the Insurance Commissioner
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

Annually by June 30.

West Virginia Long-Term Care Independent Review Organization Certification

Type of Review:

Medical Utilization Review

Agency:West Virginia Offices of the Insurance Commissioner

West Virginia Third Party Administrator License - Non-resident

Agency:State of West Virginia Offices of the Insurance Commissioner (WV)
Law:

W. Va. Code §23-2-9

W. Va. Code §23-2C-17

W. Va. Code §33-46-2(a)

W. Va. Code §33-46-12(h)

W. Va. Code §33-46-1

W. Va. Code §33-46-13

Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Form:

TPA Registration Application

Filing Method:

Mail

Agency Fee:

$100 preliminary admission + $200 annual fee

Required Attachments:

a. A list of all plans administered by the company nationwide (indicate type), including self-funded, fully insured,MEWAS, commercial self-insurance funds, spending accounts associated with Section-125 Flexible Benefit plans, etc.;
b. The number of West Virginia covered lives, West Virginia premiums collected (dollar amount), and the West Virginia annual claims paid (dollar amount); and,
c. For the self-insured ERISA plans, provide the contact person, title, address, and telephone number for each plan (indicate single employer or multiple employer)

Registration Renewal

Form:

TPA Renewal Application

Filing Method:

Mail

Agency Fee:

$200

Due:

Annually by September 31. 

Law:

W. Va. Code §33-46-14(d)

Required Attachments:

1) A fully completed TPA Attestation Statement for Non-Residents;
2) The complete name, contact person, address, and telephone number of all insurers (including church plans, government plans,
self-funded plans, etc.) in West Virginia with which the administrator had agreements during the preceding fiscal year (indicate
the plan type);
3) The number of West Virginia covered lives, West Virginia premiums collected (dollar amount), and the West Virginia annual
claims paid (dollar amount)

West Virginia Third Party Administrator License - Resident

Agency:State of West Virginia Offices of the Insurance Commissioner (WV)
Law:

W. Va. Code §23-2-9

W. Va. Code §23-2C-17

W. Va. Code §33-46-2(a)

W. Va. Code §33-46-12(h)

W. Va. Code §33-46-1

W. Va. Code §33-46-13

Foreign Qualification is Prerequisite:No
Bond Requirements:

A surety bond is required if the administrator will administer governmental or church slef insured plan in its home state or any other state. 

Registered Agent (Special Agency) Required?No

Initial Registration

Form:

TPA Registration Application

Filing Method:

Mail

Agency Fee:

$100 preliminary admission + $200 annual fee

Registration Renewal

Form:

TPA Renewal Application

Filing Method:

Mail

Agency Fee:

$100 for filing annual report + $200 for annual fee

Due:

Annually by June 30. 

Law:

W. Va. Code §33-46-16(a)

Required Attachments:

1) An unbound Audited Financial Statement performed by an independent certified public accountant;
2) A fully completed TPA Attestation Statement for Home States of Audited Financial Statement;
3) The complete name, contact person, address, and telephone number of all insurers (including church plans, government plans,
self-funded plans, etc.) with which the administrator had agreements during the preceding fiscal year (indicate the plan type);
4) The number of covered lives nationwide, the annual premiums collected nationwide, the annual claims paid nationwide;
5) The number of West Virginia covered lives, the West Virginia premiums collected, the West Virginia annual claims paid

West Virginia Travel Insurance Business Entity License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$250

Due:

Annually by June 30.

West Virginia Travel Insurance Business Entity License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$250

Due:

Annually by June 30.

Individual Licenses

West Virginia Individual Financial Services Licenses

West Virginia Company Adjuster License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner
Notes:

Company Adjuster: An individual representing the interests of the insurer, including independent contractors with the insurer and salaried employees of the insurer.

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Company Adjuster License - Resident

Agency:West Virginia Offices of the Insurance Commissioner
Notes:

Company Adjuster: An individual representing the interests of the insurer, including independent contractors with the insurer and salaried employees of the insurer.

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Crop Adjuster License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Crop Adjuster License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Individual Insurance Producer License

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Biennially by the end of the licensee's birth month.

West Virginia Insurance Agent License

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

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

Agency Fee:

From $25 to $200 depending on license type

West Virginia Insurance Producer License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

Biennially by the end of the licensee's birth month.

West Virginia Insurance Producer License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Biennially by the end of the licensee's birth month.

West Virginia Public Adjuster License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Public Adjuster License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$25

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Annually by May 31.

West Virginia Surplus Lines License - Non-Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$300

Due:

Annually by May 31.

West Virginia Surplus Lines License - Resident

Agency:West Virginia Offices of the Insurance Commissioner

Initial Registration

Filing Method:

Online

Agency Fee:

$200

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

Annually by May 31.

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.

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