Business Entity License Types

Producer: 

A Business Entity Producer License is issued to entities that sell, solicit, or negotiate insurance products.  Business Entity Producer’s must assign one Designated Responsible Licensed Producer (DRLP) for maintaining compliance in the Commonwealth. The Entity license relies on the active status of the DRLP individual license. If the DRLP license status changes from active to any other status, the business entity license will become inactive the following day. The entity will then need to reapply online through NIPR. 

Public Insurance Adjuster:

A Business Entity Public Insurance Adjuster License is for businesses that represent policyholders during the insurance claims process.Unlike insurance companies and their adjusters, public insurance adjusters work on behalf of the policyholder.

Additional Requirements for This License Type

• At least one member must hold an active Massachusetts Public Insurance Adjuster license. 
• Upload a written adjusting contract through the NIPR Attachments Warehouse.

Adviser: 

A Business Entity Adviser License is for businesses that provide insurance advice or consulting services for compensation. Advisers help clients evaluate insurance needs and coverage options but do not act as insurance producers unless separately licensed.

Additional Requirements for This License Type

• Have at least one member who holds an active Massachusetts Adviser license.
• Upload a written adviser contract through the NIPR Attachments Warehouse.

Surplus Lines Broker: 

A Business Entity Surplus Lines Broker License is for businesses that place insurance with eligible non-admitted insurers when coverage is not available in the standard insurance market.

Additional Requirements for This License Type

• Have at least one member who holds an active Massachusetts Surplus Lines Broker license.
• Resident applicants must also hold a Massachusetts Property and Casualty Producer license.

Life Settlement Broker: 

A Business Entity Life Settlement Broker License is for businesses that help policy owners sell their life insurance policies to third parties through life settlement transactions

Additional Requirements for This License Type

• Have at least one member who holds an active Massachusetts Life Settlement Broker license.
• Submit an Anti-Fraud Plan to the Division for approval.
• Submit a Certificate of Good Standing from the state of domicile.
• Licensed Life Settlement Brokers must maintain anti-fraud procedures and training programs.

Reinsurance Intermediary Broker: 

A Business Entity Reinsurance Intermediary Broker License is for businesses that act as intermediaries between insurers and reinsurers.

Additional Requirements for This License Type

• Individuals acting under the license must be individually qualified as Reinsurance Intermediary Brokers.
• Massachusetts does not allow licensing exemptions for reinsurance intermediary activities.

Reinsurance Intermediary Manager: 

A Business Entity Reinsurance Intermediary Manager License is for businesses that manage reinsurance business on behalf of reinsurers.

Additional Requirements for This License Type

• Individuals acting under the license must be individually qualified as Reinsurance Intermediary Managers.
• File a written contract with the Division before conducting business.
• Massachusetts does not allow licensing exemptions for reinsurance intermediary activities.

Need Help? Contact the Business Entity team at: DOIRegistrationDocs@mass.gov