August 11, 2014: The Oklahoma Insurance Department announced August 5, that an emergency change has been made to the Administrative Code requiring at least 1 hour of Continuing Education on the topic of Earthquake Coverage, per renewal cycle, for all resident agents, CSRs and Adjusters with a property line of authority. Enforcement will begin January 1, 2015. This new 1 hour requirement will be included in the current 24 hour CE requirement.
In a memo from John Doak, OK Insurance Commissioner, released July 30, 2014:
"The Oklahoma Insurance Department receives calls almost daily about insurance coverage for earthquakes. Most of the callers are unaware that their property policy does not provide coverage for earth movement. When they find out that it does not, their next question is to ask about what is available and what does it cover. We are happy to provide general advice, but with the array of earthquake coverages available, a consumer’s specific questions are best answered by a knowledgeable insurance professional who can provide individual advice.
To ensure that Oklahoma producers and adjusters who work in the property market have the knowledge to provide that advice, the OID is pursuing a legal change to require at least 1 hour of continuing education on this topic each renewal cycle."
A.D. Banker is finalizing Earthquake Coverage content for online and webinar delivery to meet this requirement.
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Continuing Education Courses are available in Classroom, Online, Self-Study and Live Webinars. Other CE course topics include: Anti- Money Laundering, Annuity Suitability, Adjuster, Long-Term Care Partnership, Ethics, Flood, Identity Theft, Insurance Fraud, Navigators, and many more.