CHAPTER 15.7. INSURANCE PRODUCER LICENSE RENEWAL
IC 27-1-15.7
Chapter 15.7. Insurance Producer License Renewal
IC 27-1-15.7-1
Applicability of definitions
Sec. 1. The definitions in IC 27-1-15.6-2 apply throughout thischapter.
As added by P.L.132-2001, SEC.4.
IC 27-1-15.7-2
License renewal
Sec. 2. (a) Except as provided in subsection (b), to renew a licenseissued under IC 27-1-15.6:
(1) a resident insurance producer must complete at least twenty(20) hours of credit in continuing education courses; and
(2) a resident limited lines producer must complete at least five(5) hours of credit in continuing education courses.
An attorney in good standing who is admitted to the practice of lawin Indiana and holds a license issued under IC 27-1-15.6 maycomplete all or any number of hours of continuing educationrequired by this subsection by completing an equivalent number ofhours in continuing legal education courses that are related to thebusiness of insurance.
(b) To renew a license issued under IC 27-1-15.6, a limited linesproducer with a title qualification under IC 27-1-15.6-7(a)(8) mustcomplete at least seven (7) hours of credit in continuing educationcourses related to the business of title insurance with at least one (1)hour of instruction in a structured setting or comparable self-study ineach of the following:
(1) Ethical practices in the marketing and selling of titleinsurance.
(2) Title insurance underwriting.
(3) Escrow issues.
(4) Principles of the federal Real Estate Settlement ProceduresAct (12 U.S.C. 2608).
An attorney in good standing who is admitted to the practice of lawin Indiana and holds a license issued under IC 27-1-15.6 with a titlequalification under IC 27-1-15.6-7(a)(8) may complete all or anynumber of hours of continuing education required by this subsectionby completing an equivalent number of hours in continuing legaleducation courses related to the business of title insurance or anyaspect of real property law.
(c) The following insurance producers are not required tocomplete continuing education courses to renew a license under thischapter:
(1) A limited lines producer who is licensed withoutexamination under IC 27-1-15.6-18(1) or IC 27-1-15.6-18(2).
(2) A limited line credit insurance producer.
(3) An insurance producer who is at least seventy (70) years ofage and has been a licensed insurance producer continuously for
at least twenty (20) years immediately preceding the licenserenewal date.
(d) To satisfy the requirements of subsection (a) or (b), a licenseemay use only those credit hours earned in continuing educationcourses completed by the licensee:
(1) after the effective date of the licensee's last renewal of alicense under this chapter; or
(2) if the licensee is renewing a license for the first time, afterthe date on which the licensee was issued the license under thischapter.
(e) If an insurance producer receives qualification for a license inmore than one (1) line of authority under IC 27-1-15.6, the insuranceproducer may not be required to complete a total of more than twenty(20) hours of credit in continuing education courses to renew thelicense.
(f) Except as provided in subsection (g), a licensee may receivecredit only for completing continuing education courses that havebeen approved by the commissioner under section 4 of this chapter.
(g) A licensee who teaches a course approved by thecommissioner under section 4 of this chapter shall receive continuingeducation credit for teaching the course.
(h) When a licensee renews a license issued under this chapter,the licensee must submit:
(1) a continuing education statement that:
(A) is in a format authorized by the commissioner;
(B) is signed by the licensee under oath; and
(C) lists the continuing education courses completed by thelicensee to satisfy the continuing education requirements ofthis section; and
(2) any other information required by the commissioner.
(i) A continuing education statement submitted under subsection(h) may be reviewed and audited by the department.
(j) A licensee shall retain a copy of the original certificate ofcompletion received by the licensee for completion of a continuingeducation course.
(k) A licensee who completes a continuing education course that:
(1) is approved by the commissioner under section 4 of thischapter;
(2) is held in a classroom setting; and
(3) concerns ethics;
shall receive continuing education credit for the number of hours forwhich the course is approved plus additional hours, not to exceedtwo (2) hours in a renewal period, equal to the number of hours forwhich the course is approved.
As added by P.L.132-2001, SEC.4. Amended by P.L.1-2002,SEC.109; P.L.64-2004, SEC.25; P.L.60-2005, SEC.1; P.L.73-2006,SEC.1; P.L.173-2007, SEC.14.
IC 27-1-15.7-2.5
Waiver of licensure and continuing education requirements Sec. 2.5. The commissioner shall, not later than September 1,2005, establish a policy to allow a waiver of the:
(1) continuing education requirements of this chapter; and
(2) license renewal requirements of IC 27-1-15.6 and thischapter;
for an insurance producer who is serving on active duty in the armedforces of the United States in an area designated as a combat zone bythe President of the United States.
As added by P.L.56-2005, SEC.1 and P.L.60-2005, SEC.2.
IC 27-1-15.7-3
Extension for continuing education requirements
Sec. 3. (a) The commissioner may grant an extension forcomplying with the continuing education requirement set forth insection 2 of this chapter.
(b) To receive an extension under this section, a licensee must filea request with the commissioner on a form provided by thecommissioner.
(c) After a licensee files a request for an extension, the license ofthe licensee remains in effect until the commissioner makes adecision on the request.
(d) If the commissioner denies a licensee's request for anextension, the licensee must complete continuing educationrequirements set forth in section 2 of this chapter within ninety (90)days after the commissioner notifies the licensee of the denial.
As added by P.L.132-2001, SEC.4.
IC 27-1-15.7-4
Approval of continuing education courses
Sec. 4. (a) The commissioner shall approve and disapprovecontinuing education courses after considering recommendationsmade by the insurance producer education and continuing educationadvisory council created under section 6 of this chapter.
(b) The commissioner may not approve a course under this sectionif the course:
(1) is designed to prepare an individual to receive an initiallicense under this chapter;
(2) concerns only routine, basic office skills, including filing,keyboarding, and basic computer skills;
(3) concerns sales promotion and sales techniques;
(4) concerns motivation, psychology, or time management; or
(5) may be completed by a licensee without supervision by aninstructor, unless the course involves an examination processthat is:
(A) completed and passed by the licensee as determined bythe provider of the course; and
(B) approved by the commissioner.
(c) The commissioner shall approve a course under this sectionthat is submitted for approval by an insurance trade association orprofessional insurance association if: (1) the objective of the course is to educate a manager or anowner of a business entity that is required to obtain aninsurance producer license under IC 27-1-15.6-6(d);
(2) the course teaches insurance producer management and isdesigned to result in improved efficiency in insurance produceroperations, systems use, or key functions;
(3) the course is designed to benefit consumers; and
(4) the course is not described in subsection (b).
(d) Approval of a continuing education course under this sectionshall be for a period of not more than two (2) years.
(e) A prospective provider of a continuing education course shallpay:
(1) a fee of forty dollars ($40) for each course submitted forapproval of the commissioner under this section; or
(2) an annual fee of five hundred dollars ($500) not later thanJanuary 1 of a calendar year, which entitles the prospectiveprovider to submit an unlimited number of courses for approvalof the commissioner under this section during the calendar year.
The commissioner may waive all or a portion of the fee for a coursesubmitted under a reciprocity agreement with another state for theapproval or disapproval of continuing education courses. Feescollected under this subsection shall be deposited in the departmentof insurance fund established under IC 27-1-3-28.
(f) The commissioner shall adopt rules under IC 4-22-2 toestablish procedures for approving continuing education courses.
As added by P.L.132-2001, SEC.4. Amended by P.L.57-2005, SEC.1.
IC 27-1-15.7-5
Certified prelicensing courses of study
Sec. 5. (a) To qualify as a certified prelicensing course of studyfor purposes of IC 27-1-15.6-6, an insurance producer program ofstudy must meet all of the following criteria:
(1) Be conducted or developed by an:
(A) insurance trade association;
(B) accredited college or university;
(C) educational organization certified by the insuranceproducer education and continuing education advisorycouncil; or
(D) insurance company licensed to do business in Indiana.
(2) Provide for self-study or instruction provided by anapproved instructor in a structured setting, as follows:
(A) For life insurance producers, not less than twenty-four(24) hours of instruction in a structured setting orcomparable self-study on:
(i) ethical practices in the marketing and selling ofinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana; and
(iii) principles of life insurance.
(B) For health insurance producers, not less than twenty-four
(24) hours of instruction in a structured setting orcomparable self-study on:
(i) ethical practices in the marketing and selling ofinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana; and
(iii) principles of health insurance.
(C) For life and health insurance producers, not less thanforty (40) hours of instruction in a structured setting orcomparable self-study on:
(i) ethical practices in the marketing and selling ofinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana;
(iii) principles of life insurance; and
(iv) principles of health insurance.
(D) For property and casualty insurance producers, not lessthan forty (40) hours of instruction in a structured setting orcomparable self-study on:
(i) ethical practices in the marketing and selling ofinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana;
(iii) principles of property insurance; and
(iv) principles of liability insurance.
(E) For personal lines producers, a minimum of twenty-four(24) hours of instruction in a structured setting orcomparable self-study on:
(i) ethical practices in the marketing and selling ofinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana; and
(iii) principles of property and liability insuranceapplicable to coverages sold to individuals and families forprimarily noncommercial purposes.
(F) For title insurance producers, not less than ten (10) hoursof instruction in a structured setting or comparable self-studyon:
(i) ethical practices in the marketing and selling of titleinsurance;
(ii) requirements of the insurance laws and administrativerules of Indiana;
(iii) principles of title insurance, including underwritingand escrow issues; and
(iv) principles of the federal Real Estate SettlementProcedures Act (12 U.S.C. 2608).
(3) Instruction provided in a structured setting must be providedonly by individuals who meet the qualifications established bythe commissioner under subsection (b).
(b) The commissioner, after consulting with the insurance
producer education and continuing education advisory council, shalladopt rules under IC 4-22-2 prescribing the criteria that a personmust meet to render instruction in a certified prelicensing course ofstudy.
(c) The commissioner shall adopt rules under IC 4-22-2prescribing the subject matter that an insurance producer program ofstudy must cover to qualify for certification as a certifiedprelicensing course of study under this section.
(d) The commissioner may make recommendations that thecommissioner considers necessary for improvements in coursematerials.
(e) The commissioner shall designate a program of study thatmeets the requirements of this section as a certified prelicensingcourse of study for purposes of IC 27-1-15.6-6.
(f) The commissioner may, after notice and opportunity for ahearing, withdraw the certification of a course of study that does notmaintain reasonable standards, as determined by the commissionerfor the protection of the public.
(g) Current course materials for a prelicensing course of study thatis certified under this section must be submitted to the commissionerupon request, but not less frequently than once every three (3) years.
As added by P.L.132-2001, SEC.4. Amended by P.L.64-2004,SEC.26.
IC 27-1-15.7-6
Insurance producer education and continuing education advisorycouncil
Sec. 6. (a) As used in this section, "council" refers to theinsurance producer education and continuing education advisorycouncil created under subsection (b).
(b) The insurance producer education and continuing educationadvisory council is created within the department. The councilconsists of the commissioner and fifteen (15) members appointed bythe governor as follows:
(1) Two (2) members recommended by the ProfessionalInsurance Agents of Indiana.
(2) Two (2) members recommended by the IndependentInsurance Agents of Indiana.
(3) Two (2) members recommended by the Indiana Associationof Insurance and Financial Advisors.
(4) Two (2) members recommended by the Indiana StateAssociation of Health Underwriters.
(5) Two (2) representatives of direct writing or exclusiveproducer's insurance companies.
(6) One (1) representative of the Association of Life InsuranceCompanies.
(7) One (1) member recommended by the Insurance Institute ofIndiana.
(8) One (1) member recommended by the Indiana Land TitleAssociation. (9) Two (2) other individuals.
(c) Members of the council serve for a term of three (3) years.Members may not serve more than two (2) consecutive terms.
(d) Before making appointments to the council, the governormust:
(1) solicit; and
(2) select appointees to the council from;
nominations made by organizations and associations that representindividuals and corporations selling insurance in Indiana.
(e) The council shall meet at least semiannually.
(f) A member of the council is entitled to the minimum salary perdiem provided under IC 4-10-11-2.1(b). A member is also entitled toreimbursement for traveling expenses and other expenses actuallyincurred in connection with the member's duties, as provided in thestate travel policies and procedures established by the statedepartment of administration and approved by the state budgetagency.
(g) The council shall review and make recommendations to thecommissioner with respect to course materials, curriculum, andcredentials of instructors of each prelicensing course of study forwhich certification by the commissioner is sought under section 5 ofthis chapter and shall make recommendations to the commissionerwith respect to educational requirements for insurance producers.
(h) A member of the council or designee of the commissionershall be permitted access to any classroom while instruction is inprogress to monitor the classroom instruction.
(i) The council shall make recommendations to the commissionerconcerning the following:
(1) Continuing education courses for which the approval of thecommissioner is sought under section 4 of this chapter.
(2) Rules proposed for adoption by the commissioner thatwould affect continuing education.
As added by P.L.132-2001, SEC.4. Amended by P.L.64-2004,SEC.27; P.L.73-2006, SEC.2.
IC 27-1-15.7-7
Rules
Sec. 7. The commissioner may adopt rules under IC 4-22-2 toimplement this chapter.
As added by P.L.132-2001, SEC.4.
IC 27-1-15.7-8
Hearings
Sec. 8. All hearings held under this chapter are governed byIC 4-21.5-3. The commissioner may appoint members of thecommissioner's staff to act as hearing officers for purposes ofhearings held under this chapter.
As added by P.L.132-2001, SEC.4.