Indiana Department of Insurance issues a clarification bulletin to Life and/or Health Producers

May 16, 2014:  Indiana's Insurance Commissioner, Stephen Robertson, issued Bulletin 207 on Tuesday, May 13 in an effort to clarify producer confusion regarding the timing of the new 3-hour ethics CE requirement, which became effective July 1, 2013.  Producers holding licenses with qualifications in Life, Health, Variable Life, and Variable Annuity ("Life and Health Producers") were required to complete 3 hours of CE related to ethical practices in the marketing and sale of life, health, or annuity insurance products to renew their producer licenses.

"The Department interprets the change to IC 27-1-15.7-2(a) to be inapplicable to the first renewal after July 1, 2013.  Stated differently, LIfe and Health Producers will NOT be required to obtain the ethics requirement until the first renewal period after July 1, 2014.  Life and Health Producers who do NOT complete 3 hours of ethics CE will NOT be able to renew their licenses after June 2014 even IF they have completed 24 hours of non-ethics CE.  This ethics CE requirement continues for every Life and Health Producer's renewal cycles after June 2014.

Insurance producers with qualifications in more than one line of authority are not required to complete MORE than 24 hours of CE credit to renew their licenses.  Life and Health Producers taking 3 hours of ethics as part of their Certified Financial Planner certification renewal will be considered compliant with this new CE requirement."

A.D. Banker & Company offers the following CE courses in Indiana:

  • Avoiding E&O Claims
  • Ethical Insurance Practices
  • Ethics for Professionals
  • Ethics in Business
  • Ethics in the Senior Market
  • Ethics: Delivering on the Promise

Click here to enroll

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