02-031 C.M.R. ch. 542, § 4 - Minimum Educational Requirements

A. Continuing education. As a condition of continued licensure, individuals with resident producer or consultant licenses must earn at least 24 credit hours each biennium through satisfactory completion of courses approved pursuant to this Rule. Of the 24 credit hours, at least 3 must cover ethics.

B. First biennium of licensure. The continuing education requirement is waived for individuals who receive their license less than one year before their first compliance date.

C. Limitations. No credit may be earned for repeating a course previously taken during the same biennium. No continuing education credit may be earned for courses taken before the issuance of a license or for courses taken by a licensee to satisfy any applicable pre-licensing education requirement for an additional license authority. Credit hours may not be accumulated in advance for use in a subsequent biennium. Credit hours taken to remedy a deficiency in the preceding biennium do not count toward the current biennium's requirement.

D. Pre-licensing education or proof of experience for producer applicants. To the extent pre-licensing is required by statute, applicants for insurance producer licenses must present to the examination administrator, at the time of examination, either:

(1) A certificate or certificates issued pursuant to Subsection7(C) of this Rule demonstrating satisfactory completion of at least 16 credit hours within the preceding two years for each licensing authority requested; or

(2) A certificate of experience in a form approved by the Superintendent demonstrating sufficient work experience. Applicants must present verification by an employer that they have completed at least 6 months of relevant full-time equivalent experience within the preceding 2 years as an employee of an insurer or producer.

E. Proof of experience for consultant applicants. To the extent pre-licensing is required by statute, applicants for consultant licenses must present to the examination administrator a certificate of experience in a form approved by the Superintendent demonstrating sufficient work experience. Consultant applicants must certify that they have at least 5years of relevant experience.

F. Nonresidents. Satisfaction of a nonresident producer's home state's continuing education requirements for licensed insurance producers constitutes satisfaction of this State's continuing education requirements, if the nonresident producer's home state recognizes the satisfaction of its continuing education requirements by producers from this State on the same basis.

Notes

02-031 C.M.R. ch. 542, § 4