March 4, 2020, Memorandum: Effective December 13, 2019, the Department of Insurance and Financial Services (DIFS) will no longer be accepting applications to license sole proprietorships as business entities.
Individual producer licensee operating as a sole proprietor will no longer be required to hold a separate business entity producer license. Thos operating under a DBA will have to file the DBA under the individual license.
DIFS to issue future instructions for agencies currently licensed that are sole proprietorships on the next steps.