Broker Dealer License in North Dakota

North Dakota licenses insurance professionals as Insurance Producers through the North Dakota Insurance Department. North Dakota has a unique insurance landscape because it is one of only four states with a monopolistic state workers' compensation fund (the North Dakota Workforce Safety and Insurance), meaning private carriers cannot write workers' compensation coverage. This affects the available lines of authority for producers. North Dakota's agricultural economy is the dominant driver of insurance demand, with the state being a top producer of wheat, sunflowers, and canola. Crop insurance and farm coverage are critical product lines. The state's exposure to severe winter storms, spring flooding, and summer hailstorms drives Property and Casualty activity. Pre-licensing education requires approximately 40 hours per major line of authority. Criminal background checks are required. Continuing education is 24 hours biennially, including 3 hours of ethics. The Fargo and Bismarck areas are the primary insurance market centers. North Dakota participates in NIPR for non-resident licensing.