May 25, 2016

PIANY CE bill introduced

Legislation was introduced this week in the state Assembly to remedy the cumbersome and confusing situation with regard to continuing-education compliance for licensees holding multiple individual and business entity licenses.

The bill (A.10378), drafted by PIANY, would eliminate the need for insurance agents and brokers to take duplicate CE courses for both their individual and agency insurance licenses. It has been introduced and referred to the Insurance Committee. This proposal would amend the CE requirements to allow for renewal of the business-entity license without evidence of CE credits if all entity sublicensees have a valid and appropriate insurance license as of the entity license renewal date.

A companion bill (S.7940) also has been introduced in the state Senate by Senate Insurance Committee Chairman Sen. James L. Seward, R-51.