law Insurance
Extenuating circumstances, such as military service or a long
term medical disability may warrant a waiver of renewal procedures.
A temporary license may not be continued after
the owner or personal representative disposes of the business. If a temporary licensee desires a regular producer's license he or she must pass the appropriate exam. Upon acquiring the regular producer's license, he/she must surrender the temporary license.
Temporary producer licenses may be granted for up to
6 months and may not be renewed except in the case of disabling or confining illness or injury of the producer.
If a producer licensed in another state moves to this state, he or she must apply for a resident producer license within
90 days of establishing legal residence.
Lines of Authority
An insurance producer in this state may qualify for licensing for one or more of the following classes of insurance (lines of authority):
Before the Commissioner will issue a resident producer license, a person must meet the following qualifications
Be at least 18 years old;
The Commissioner may also issue a temporary license to a person who is qualified to have a regular producer's license but has not taken or passed the appropriate exam. The person must be actively engaged in
a course of study, instruction and field training approved by the Commissioner and under the supervision of a licensed insurer.
Casualty
coverage against legal liability;
Automobile property and casualty
coverage for automobiles.
Bail bond surety
coverage for bail;
Accident and Health or Sickness (disability)
coverage for sickness, bodily injury or accidental death and may include disability income;
Property
coverage for the direct and consequential loss or damage to property of every kind;
Industrial fire (debit fire)
insurance sold through debit agency system.
A business entity acting as an insurance producer must be
licensed. The business entity must satisfy the following requirements:
The Commissioner may
limit the authority of a temporary licensee if necessary.
Personal lines
noncommercial property and/or casualty;
Producers are individuals or business entities that are required
to be licensed to sell, solicit, and negotiate insurance in this state. The license must be for the class of insurance that a producer intends to sell or solicit.
Licensing
Insurance professionals must be properly licensed for a specific line of authority in order to transact insurance. The purpose of licensing is to ensure that a producer meets educational and ethical standards required to fulfill producer's responsibilities to the insurer and to the public. Licensing regulations set out the requirements, procedures, and fees relating to the qualification, licensure, and appointment of insurance producers.
Life insurance
coverage on human lives, annuities, endowment;
Variable life and variable annuity products
coverage under variable life contracts.
The Commissioner may grant a 3
month extension for completion of CE. To receive an extension, the licensee must submit an approved form. The license remains in effect until the Commissioner makes a decision. If the extension is denied, CE must be completed within 30 days after being notified of the denial. An extension of more than 3 months may be granted if the Commissioner approves.
