A premium finance licensee is responsible for entering into insurance premium finance agreements. See RCW 48.56.020 (leg.wa.gov).
Application requirements
Submit a uniform application for a business insurance license. This application should be completed on behalf of the company or by any producer who funds bonuses or signs contracts / agreements. Email request form.
Each authorized person must complete a uniform application for an individual insurance producer license. Email request form.
If the authorized person is not already licensed, they must also submit a fingerprint card.
Companies or LLCs must send a copy of their articles of incorporation or formation.
Companies must register their trade name with the Business Licensing Service (www.dor.wa.gov) . A business includes a partnership or sole proprietorship.
Special instructions for uniform application
For individual applications
At the top of the “Jurisdiction and type of license application†page, there is a key for the abbreviations in the grid.
Right below these abbreviations there are categories for license type, major lines of authority, and limited lines of authority.
- Find the row of the WA grid in the “Jurisdiction” column.
- In the “Limited Lines of Authority†section, on the row of the WA grid, please write “Bonus Finance†in the “Other†column.
- If you are not a United States citizen (question 15 on your application), you must show proof of eligibility to work in the United States in order to obtain an insurance license. A copy of your resident alien card will meet this requirement. Visit the US Bureau of Citizenship and Immigration website (www.uscis.gov) for details.
For business entity applications
There are two “Jurisdiction and Type of License Requested†pages. One if for the main lines of authority. The other is for limited lines of authority. At the top of each, there is a key for the abbreviations in the grid.
Just below the abbreviations there are categories for Legal Business Type, License / Registration Type, and Lines of Authority.
On the Limited Lines of Authority page:
- Find the row of the WA grid in the “Jurisdiction” column.
- In the “Limited Lines of Authority†section, on the row of the WA grid, please write “Bonus Finance†in the “Other†column.
Price list
- License fee: $ 100
- Fingerprint Processing Fee: $ 71.25 (if applicable)
- Application fees: $ 5
Make checks payable to: Washington Insurance Commissioner. You can combine all the charges on one check.
