How to Renew a New Mexico Insurance License

A.D. Banker Provider #: 8

1. Review the State Requirements

In order to renew your insurance license, you must complete the required continuing education hours for the lines of insurance that you are licensed in. All of the hours must be completed and reported prior to your license renewal date to avoid a lapse in your license.

GENERAL REQUIREMENTS:

Total Hours

24 hours (including 3 hours of Ethics) are required biennally for Producers and Adjusters

A minimum of 3 hours must be completed in a classroom or live webinar course.  Licensees are responsible for tracking this requirement and are subject to audit by the superintendent.

Compliance Renewal Date

For licenses issued or renewed after 7/1/2017 - license term ends on the last day of the producer's birth month, biennially.  Even birth years renew in even years, odd birth years renew in odd years.

You may also need to take specific courses or earn specific credit types to renew your license. These course completions will count toward the total hour requirement.

LINE-SPECIFIC REQUIREMENTS:

CE Course Category Restrictions - Licensees must take courses in license type held.

For All Licenses:

Ethics
3 hrs - Producers and Adjusters must complete 3 hrs of Ethics as part of the total requirement

For Life & Health Producers:

Annuity Best Interest Training

4 hr - Producers holding a Life line of authority on or after October 1, 2022 and who desire to sell annuities must complete a one-time, 4-hour Annuity Best Interest training course. A.D. Banker courses are available now via live webinar and online.

Reciprocity: Completion of NAIC annuity best interest training in another state reciprocates with New Mexico.

Long-Term Care
8/4 hrs - Effective 2/27/18 - Producers must complete an initial 8-hour Long-Term Care (LTC) Certification Training prior to selling, soliciting, or negotiating Long-Term Care products/policies. After completing the initial requirement, producers must complete a 4-hour ongoing LTC training, due every renewal thereafter. Producers transacting LTC products prior to Feb. 2018  must complete the 8-hour initial training by 2/27/19.

For Property & Casualty Producers:

Flood
3 hrs - Effective 2/27/18 - Property/Casualty and Personal lines producers must complete a one-time 3-hour course on NFIP Flood Insurance Certification Training prior to selling flood insurance policies. Producers transacting flood products prior to Feb. 2018  must complete the 3-hour training by 2/27/19.

There are also additional rules about how the course hours can be applied.

CARRYOVER HOURS:

Carryover hours are not allowed.

COURSE REPETITION:

Courses may not be taken more than once in a three-year period.  Completion dates must be at least 36 months apart.

If you meet any of criteria below, you may be exempt from the continuing education requirements.

EXEMPTIONS:

• Non-residents who have met the CE requirements in their home state
• Any licensee, that has been continuously licensed and in good standing for 25 years or more without a lapse of more than 90 days, is eligible to apply for a Grandfather Exemption.
• Individuals holding a limited license
• Individuals who maintain a license solely for the purpose of receiving renewal fee residuals who do not otherwise transact insurance
• Individuals who act as agents for fraternal benefit societies

2. Register for and Complete Courses

Once you have determined the renewal requirements for your license, you can register for courses. Each course has an associated credit type; when registering for courses, select courses with credit types that will help to fulfill the renewal requirements for your license.

A.D. Banker offers webinar, online, and self study courses for New Mexico. You can register for courses under the Continuing Education menu at www.adbanker.com.

You must fulfill the course requirements for each of the courses to have them reported.

• Classroom and webinar course completions are based off of attendance and participation and do not require a completion exam. You must be present for the full duration of the course and be active and attentive throughout to receive credit.
• Online and Self Study courses are self-paced. You must review the course material and pass the Certification Exam at the end to receive credit.

MONITOR REQUIREMENTS:

Online and self study exams do not require a monitor.

REPORTING METHOD:

Once a course has been completed, the completion must be reported to the state. A.D. Banker will report the course completions to State Based Systems (SBS).

3. File a Renewal Application

Once you have satisfied the renewal requirements for your license, you can file a renewal application at https://www.nipr.com/.

A.D. Banker & Company provides licensing information as a courtesy to our students. While reasonable attempts have been made to ensure the accuracy of this information, licensees are ultimately responsible for ensuring that they are in compliance with the requirements set forth by their state licensing entity. A.D. Banker & Company offers no guarantee of the accuracy of this information and will not be held liable in case of noncompliance with the license requirements.