INSURANCE PRODUCER License in New Jersey

New Jersey licenses insurance professionals as Insurance Producers through the New Jersey Department of Banking and Insurance (DOBI). New Jersey's insurance market is one of the most heavily regulated in the nation, with the state historically maintaining strict rate regulation for auto and homeowners insurance. The state's dense population, high cost of living, and coastal exposure to hurricanes and nor'easters create a complex insurance environment. The New Jersey FAIR Plan provides residual market coverage for properties that cannot obtain standard coverage. Pre-licensing education requires approximately 40 hours per major line of authority. New Jersey requires fingerprint-based criminal background checks through the State Police. The state has specific regulations around the sale of flood insurance given its significant coastal and riverine flood exposure, particularly highlighted after Superstorm Sandy in 2012. Continuing education is 24 hours biennially, including 3 hours of ethics. New Jersey participates in NIPR for non-resident licensing. Newark, Trenton, and the northern New Jersey corridor are primary insurance market centers.