IC Memo

TO: LINDA LINGLE GOVERNOR JAMES R. AIONA, JR. LT. GOVERNOR STATE OF HAWAl'I INSURANCE DIVISION DEPARTMENT OF COMMERCE & CONSUMER AFFAIRS P. 0. BOX 3614 HONOLULU, HAWArt 96811-3614 May 17, 2010 RONALD BOYER ACTING DIRECTOR J.P. SCHMIDT INSURANCE COMMISSIONER MEMORANDUM 2010-1 LIC Insurance Producers Continuing Education Course Providers FROM: J.P. Schmidt, Insurance Commissioner SUBJECT: Act 77, Session Laws of Hawaii 2009 Amended Insurance Code Provisions Relating to Continuing Education Course Credit Hours and Subjects This memorandum is intended to provide continuing education course providers and insurance producers with information on section 9 of Act 77 of the 2006 Legislative Session. Section 9 of Act 77 amends requirements relating to continuing education for insurance producers and the amendments becomes effective on July 1, 2010. At this time producers will have two full years to meet the new 24 continuing education credit requirements. The first renewals that will be affected are the August 16, 2012 renewal date. Course providers and producers are encouraged to familiarize themselves with the new law. Section 9 of Act 77 amends the requirements of section 431 :9A-124(b), Hawaii Revised Statutes for producer license renewals that occur on and after July 1, 2010. 1) Increase the number of credit hours for the renewal of a license with only one line of authority in either 1) life or accident and health or sickness, or 2) property, marine and transportation, vehicle, general casualty, or surety. The requirement is increased by four hours from twenty to twenty-four credit hours. Twenty-one credit hours shall pertain to subjects relating to the line of insurance and three hours shall pertain to the ethics training or the laws and rules relating to insurance. See Act 77, Session Laws of Hawaii 2009, page 12, lines 11 -22 and page 13, lines 1 -3. Memorandum 201 O -1 UC May 17, 2010 Page 2 of2 2) Decrease the number of credit hours required for the renewal of license with both lines of authority in 1) life or accident and health or sickness, and 2) property, marine and transportation, vehicle, general casualty, or surety. The requirement is decreased from thirty hours to twenty-four credit hours. Ten credit hours shall pertain to life or accident and health or sickness. Eleven credit hours shall pertain to property, marine and transportation, vehicle, general casualty, or surety. Three hours shall pertain to the ethics training or the laws and rules relating to insurance. See Id. Page 13, lines 4-22 and page 14 lines 1-2. If you have any questions, please contact the Hawaii Insurance Division, Licensing Branch, at (808) 586-2788 or lnslic@dcca.hawaii.gov