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What is a DRLP?

I’ve been in the industry for nearly six months now and every day brings a new acronym or a new term.  DRLP is the latest.  If you know what a DRLP is, then you’re well ahead of your peers. 

As we’ve discussed recently,19 states require an IA firm to hold an adjuster license.  Each state requires that you indicate who will be the Designated Responsible Licensed Producer, or DRLP.  The term, DRLP, is widely used in the insurance licensing world of producers, adjusters and business entities.

Many states require that insurance agencies or independent adjusting firms hold a business entity license in their state in order to conduct business as said agency or firm. To acquire the license, the majority of states ask that you name a DRLP on the application. In most cases, this DRLP must also hold a producer or adjuster license in the state as well. Essentially, the DRLP becomes responsible for ensuring the company is staying compliant with the state’s insurance laws, rules and regulations.

Who can be a DRLP?  As is common in the world of licensing, this answer varies by state.  Many states require the DRLP be an officer of the company while other states allow you to appoint anyone holding a license in that state as the DRLP. Follow this link for a list of who can be the IA firm’s DRLP.

If the DRLP terminates his or her association with the business entity or does not maintain his or her license or appointments, the business entity’s licenses will be inactivated. A DRLP’s association is a condition of licensure for the business entity. Business entity’s must notify the department of insurance of a replacement DRLP prior to the termination of the existing DRLP in order to avoid the license inactivation of the business entity’s license.

Xeneros helps organizations maintain independent adjuster licenses and the associated requirements.  Xeneros uses an innovative web-based software program which is supported and maintained by a knowledgeable compliance staff. For more information go to www.xeneros.net.

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