ACORD Licensing Changes Effective January 1, 2020
I wanted to inform you about ACORD’s new licensing policy. Effective January 1, 2020, ACORD will require all insurance agencies to directly license and pay membership fees to ACORD for the usage of the ACORD Forms. This licensing decision, made independently by ACORD, still requires Agency Systems and all other solution providers to obtain a license for the use and distribution of ACORD Forms; however, ACORD also now requires all agents and brokers who continue to use ACORD Forms after January 1 to obtain licenses directly from ACORD.
We have also been advised that under ACORD’s new licensing policy, members of The Independent Insurance Agents & Brokers of America (Big “I”) and/or National Association of Professional Insurance Agents (PIA) that have a group gross revenue of under $50 million will be eligible for a license from ACORD as part of their membership(s), with no additional payment necessary. Additional information for Big “I” members can be found in their FAQ and for PIA members in their press release.
Users who do not qualify for a license under their Big “I” membership, PIA membership or a qualifying ACORD membership are able to purchase a stand-alone End User License from ACORD. For additional information, please review the ACORD membership programs.
As always, thank you for selecting Agency Systems as your trusted technology partner.
This link is a very thorough explanation by Steve Anderson of the Acord situation for those wishing to learn more. It also includes links to the Big “I”, PIA and Acord.
R.H. Bud Allen
Newton by Agency Systems