HB 2532
Exempt those with 25 years holding an insurance license from attaining additional CEUs
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill proposes an exemption for insurance license holders who have been actively working in the industry for 20 years. It would exempt these individuals from the requirement to complete additional continuing education (CEUs) as mandated by the West Virginia Insurance Commissioner. The bill establishes the ‘Insurance Continuing Education Responsibility Act’ to formalize this exception, clarifying that those with extensive experience are not required to pursue ongoing training beyond a minimum.
Key provisions
- Exempts insurance producers with 20 years of license holding from additional CEUs.
- Creates the ‘Insurance Continuing Education Responsibility Act’ to formalize the exemption.
- Sets a minimum CEU requirement of 24 hours biennially for all producers, with lower limits for specific types of producers (preneed burial, telemarketing).
- Allows for CEU credits to be earned through approved courses and programs sponsored by insurers, colleges, or professional organizations.
- Allows producers to carry over a maximum of six CEU credits to the next reporting period.
- Establishes a fee for continuing education providers to support the system.
- Defines the scope of insurance covered by the license (life, accident & health, property, casualty, variable products, personal lines).
- Specifies consequences for failing to meet CEU requirements, including license suspension and potential cancellation.
Who is affected
- Insurance Producers
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