Quest CE

Significant changes to the laws governing insurance producers, insurance adjusters, real estate brokers, real estate salespersons, real estate appraisers, and license education providers will take effect on July 1, 2010.

Insurance Producers

Insurance producer continuing education will consist of 24 hours during each licensing period. At least 3 of those hours must be met through classroom study in the area of ethics.

Insurance producers may take all continuing education hours over the Internet or via other verifiable self-study. (But only half of the required continuing education hours may be obtained through company-sponsored courses.)

The “inactive waiver” has been eliminated. Insurance producers who are no longer actively engaged in the solicitation and sale of insurance will no longer be able to apply for a waiver of continuing education requirements.

The license renewal date will change from October 31st to the last day of the producer’s birth month. This change will be phased in according to the MN State “Birth Month Renewals” chart.

Continuing education courses provided by a bona fide trade association will no longer count as “company-sponsored” unless they are held on the premises of a company doing business in the insurance area or otherwise defined by statute as “company-sponsored.”

The Department of Commerce will no longer be required to approve any educational program approved by Minnesota Continuing Legal Education relating to the insurance field or to real estate.