How often do surplus lines brokers need to renew their license in New Jersey?

Surplus lines brokers in New Jersey are required to renew their licenses every two years. This renewal process is essential to ensure that brokers stay current on regulations, industry practices, and continue to meet the qualifications necessary to provide specialized insurance products. The two-year renewal cycle allows for periodic assessments of brokers' competencies and compliance with state laws, which helps maintain the integrity and professionalism of the surplus lines insurance market. Regular renewal also ensures that brokers are updating their knowledge and skills, especially as the insurance landscape evolves.