What is the penalty for failing to renew an expired producer license within 12 months?

In Connecticut, if a producer license expires and is not renewed within a 12-month period, the consequence is indeed a fine that amounts to double the standard renewal fee. This penalty is in place to encourage timely renewal and to maintain regulatory standards within the insurance industry.

Failing to renew a license can disrupt a producer's ability to operate legally, leading to additional repercussions. The doubling of the renewal fee serves as an incentive for producers to keep their credentials current, which helps protect consumers and the integrity of the insurance market. Thus, the requirement and associated penalties are designed to uphold accountability among licensed producers in Connecticut.