Insurance agents; continuing education requirements. (HB209)

Introduced By

Del. Jackson Miller (R-Manassas)

Description

Insurance agents; continuing education.  Eliminates provisions that conditioned an insurance agent's ability to submit late proof of compliance or reinstate a license upon payment of penalties of $250, $500, or $1,000. The measure also amends the requirement that two continuing education credit hours be in insurance law and regulations to require that three credit hours be in insurance ethics, which may include insurance law and regulations. The deadline for completing continuing education course, exemption, or waiver requirements is changed from December 31 to November 30. The measure eliminates (i) requirements that a status report be provided prior to the end of each biennium to each agent who has not satisfied continuing education requirements and (ii) the provision prohibiting agents whose license has been terminated for failing to comply with the continuing education requirements from applying for a new license prior to the expiration of a period of 90 calendar days from the date of license termination. The measure also shortens the time for the Insurance Continuing Education Board to grant or reject a grievance from 30 to 15 days. Amends § 38.2-1866 (“Continuing education requirements.”), § 38.2-1868.1 (“Proof of compliance; late filing penalties, exemption or waiver.”), § 38.2-1869 (“Failure to satisfy requirements; termination of license.”), § 38.2-1872 (“Administrative duties of Board; transfer to outside administrator.”), § 38.2-1873 (“Continuing insurance education fees.”), § 38.2-1874 (“Continuing education program; plan of operation; approval by Commission.”), of the Code of Virginia. View Full Text »

Outcome

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