Insurance Continuing Education Frequently
Asked Questions (and Answers!) for Producers, Adjusters and
Consultants
The following information applies to all
Adjuster, Consultant and Producer licensees.
Do I have an insurance continuing education
requirement?
All insurance producers, adjusters and
consultant licensees must complete insurance continuing education as
part of the biennial (two year) renewal process.
When must I file?
Every producer, adjuster and consultant license
has a license lapse or renew by date on the upper right side.
That is the date by which insurance continuing education
requirements must be completed and filed.
How many credit hours must I complete?
Licensees must complete 24 credit hours of
Montana-approved insurance continuing education.
A minimum of 1 credit hour must address legislative changes
to
Montana
insurance statutes.
Wait, I’m only licensed for the line of limited lines
credit. What is my
insurance continuing education requirement?
Producer licensees with only the
line of limited lines credit must complete 5 credit hours of
Montana-approved insurance continuing education in the categories of
credit life and credit disability insurance, insurance law and/or
ethics. A minimum of one credit must address legislative changes to
Montana
insurance statutes.
When may I earn my credit hours?
Credit hours are earned during the 24-month
period that precedes the license lapse/renew by date on the face of
the license. That allows
24 months to earn 24 credit hours.
Give me an example of that 24-month period.
The lapse date on the license is April 1, 2008.
Insurance continuing education credit to apply to that filing
date may be earned between April 1, 2006 and April 1, 2008.
The credit hours must be filed with the Insurance Continuing
Education Program on or before April 1, 2008.
What courses can I take to meet my
requirement?
Producer, adjuster and consultant licensees can
complete any Montana-approved insurance continuing education course.
There is a list of providers that offer courses here on the
State Auditor’s Office web site.
Here is the link: http://sao.mt.gov/database/providerlist.asp
How do I find a course that addresses
legislative changes to
Montana
insurance statutes?
There is a list of providers that offer these
courses on the State Auditor’s Office web site.
Here is the link: http://sao.mt.gov/insurance/prov_leg_changes.asp
When must I report a course addressing
legislative changes to
Montana
insurance statutes?
Every biennial report must include at least one
credit hour on legislative changes to
Montana
insurance statutes.
How do I report the insurance continuing
education courses I complete?
Every licensee is mailed a hard copy reporting
form 2 months before the license lapse or renew by date.
(This is a gentle reminder and provides enough time to
complete the requirement before the lapse date.)
Licensees can send the completed forms (and fee for
consultants and adjusters) to the: Insurance Continuing Education
Program,
840 Helena Avenue
,
Helena
,
Montana
59601
.
Insurance continuing education courses can also
be reported on the State Auditor’s Office website.
Here is the link: http://sao.mt.gov/insurance/CEupdate/login.asp
Adjuster and consultant licensees must also
mail the Individual License Renewal form and fee in addition to
reporting continuing education on-line.
When do I report my insurance continuing
education?
Credit hours must be completed and reported
during the 24-month period before the license lapse date on the
individual license.
Can I use extra credit for my next filing?
No, there is no rollover or carry over of
excess credit hours earned in one biennial period to the next
biennial period.
Can I repeat a course I took and reported on
a previous continuing education filing?
No, there is no repeat of a course from the
same course provider for credit.
A course of the same or similar title or topic offered by a
different course provider is considered a different course, not a
repeat.
When will my renewal license be sent?
I completed and filed my insurance continuing education on or
before my license lapse date.
Renewal licenses are printed and mailed to the
address of record after the license lapse/renew by date and prior to
the first day of the next month.
I didn’t complete or report my required
insurance continuing education by my license lapse/renew by date,
now what?
Your
Montana
licensure lapsed on your license lapse/renew by date.
You must submit the outstanding insurance continuing
education credit and file a reinstatement form with the $100
reinstatement fee. You cannot
conduct
Montana
insurance business until your licensure is reinstated.
How long do I have to reinstate my
licensure?
Licensees
have 1 year from the license lapse date to reinstate a license.
After that, the license terminates.
The terminated licensee must retest and reapply to conduct
Montana
insurance business.
I’m newly licensed, when do I begin
earning credit toward my continuing education requirement?
Credit hours are earned during the 24-month
period that precedes the license lapse/renew by date on the face of
the license, not before. That
allows 24 months to earn 24 credit hours.
Please
contact Mary Arnold for more
information. |
