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Is there an Insurance Law in Guam?


Can Guam accounts from off-island be written without having to be licensed by the Insurance Department?

Generally no. An insurer must be admitted and licensed to do insurance business in Guam. However, if there is no insurer on island that is able to insure the property or liability risk, coverage can be secured from an off-island insurer not admitted to do business on Guam after meeting all requirements set forth in the Surplus Lines Law.

Is there a premium tax?

Yes. Four percent (4%) Gross Receipts Tax (GRT) on the total premium which is paid on the 20th of each month to the Department of Revenue and Taxation. Two percent (2%) tax on commercial and industrial liability policies which is paid by the insurance company.

What is the usual fee for countersigning of policies as a surplus Line Broker?

Five percent (5%) to ten percent (10%) with the insurance company paying the four percent (4%) GRT on top of the fee plus two percent (2%) if the policy is a commercial and industrial liability policy.

Is there a Guam Insurance Association?


Does your company provide claims service?

Yes, we have a full staff of licensed adjusters:

Equitable Adjusting and Service, Inc.

217 Julale Center 96910
Telephone: 671-477-8513
Fax: 671-477-7515

Is Workers Compensation compulsory?

Yes. Mandatory Auto Liability is also compulsory.

Can an insurance company write direct business once it becomes licensed?

No. The insurance company must appoint a Resident Agent who is licensed to be its representative.

Are rates tariffed?

All classes of business are covered by the tariff. Covered perils are fire, lightening, earthquake, typhoon, vandalism and malicious mischief, riot and strike, and extended coverage.

Where can I receive information on the insurance licensing in Guam?

Department of Revenue and Taxation
Insurance, Securities, Banking and Real Estate Division
1240 Route 16
Barrigada, Guam 96913
P.O. Box 23607, GMF 96921
Contact Nos.: 1-671-635-1843-1846

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