Foreign Insurance Companies

Filing an Expansion Application

The North Carolina Department of Insurance accepts the "Uniform Certificate of Authority Application" from companies seeking a certificate of authority to write the business of insurance in North Carolina. The "Uniform Certificate of Authority Application" for "Expansion" allows foreign insurers to file copies of the same application for admission in numerous states. Instructions to complete the forms are included with each form. This application can be accessed at www.naic.org/industry_ucaa.htm.

In addition, foreign insurers must comply with the requirements of Chapter 58, Article 16 and North Carolina General Statute 58-7-198 and:

Submit a nonrefundable application fee. (Schedule of Fees)
Submit a Power of Attorney for Sale or Transfer of Securities.
Submit a Power of Attorney for Service of Legal Process.
Maintain capital and surplus in accordance with North Carolina General Statute 58-7-75 based on the type of insurance company.
Maintain a minimum statutory deposit in North Carolina for the benefit of all policyholders as outlined below.

TYPE OF COMPANY	STATUTORY DEPOSIT MINIMUM	STATUTORY REFERENCE
Foreign fire and/or marine	$100,000	NCGS § 58-5-5
Foreign fidelity, surety and casualty	$200,000	NCGS § 58-5-10
Foreign life insurance	$400,000	NCGS § 58-5-50

Health Maintenance Organizations (HMOs)

In addition to the "Uniform Certificate of Authority Application" accessed at www.naic.org/industry_ucaa.htm, please refer to Chapter 58, Article 67 (Health Maintenance Organization Act) and for additional licensing requirements. (NCGS § 58-67-10 and NCGS §58-67-11)

Filing a Corporate Amendments Application

Foreign insurers requesting to amend their certificate of authority in North Carolina, such as adding or deleting lines of business, should complete a "Uniform Certificate of Authority Application" for "Corporate Amendments" as accessed at www.naic.org/industry_ucaa.htm.

Questions about corporate amendments applications can be directed to:

Line of Business or Licensed Status Changes
Joe Greene
919-807-6182
joseph.greene@ncdoi.gov

Other Corporate Amendments
Tamla Dunson
919-807-6164
tamla.dunson@ncdoi.gov

Annual License Renewal

Every foreign insurer must submit a license update form and pay a nonrefundable renewal fee by March 1 each year in order to retain its certificate of authority.