Bill > A05085

This bill amends the insurance law to allow the superintendent of financial services to grant three continuing education credit hours to insurance producers who maintain active membership in a qualifying statewide professional insurance producer association during each two-year licensing period. To be considered a qualifying association, the organization must have existed for at least ten years, primarily consist of licensed insurance producers, and promote professional standards through activities like publishing a professional journal, issuing guidance statements, and developing ethical business practices. For an insurance producer to receive the credits, they must be a member in good standing, have paid their dues, read the association's code of ethics, and attend at least one association-sponsored course or seminar annually. Additionally, the professional association must submit an annual report to the superintendent by January 31st, which includes a list of members in good standing and the current code of ethics. This provision aims to incentivize professional development and engagement within the insurance producer community by recognizing active participation in professional associations.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A5085